Ron Sim, the founder of luxury massage chair maker OSIM International has made an unconditional cash offer worth $310 million to buy out minority shareholders in the company to take the company private. Sim, who controls 68.31% of the company, is offering to buy the shares at $1.32 each through his holding company Vision Three. That’s a 7.8% premium to its last traded price of $1.225 on March 1. OSIM shares have tumbled 46% in 2015, the biggest annual decline since the 2008 global financial crisis. Net profit fell 50% to $51 million as the currency turmoil in Asia dampened sales, the company said in January. “The offer provides an opportunity to OSIM’s minority shareholders to sell their stake at a significant premium over the prevailing share price amidst challenging market conditions,” Sim’s holding company said in a statement to the Singapore Exchange. In a note this morning, brokerage Maybank Kim Eng advises shareholders hold ......