Conglomerate Jardine Matheson offers to buy rest of group unit for $5.5b

Photo by Duy Nguyen on Unsplash

Jardine Matheson Holdings Ltd on Monday said it plans to buy the remaining 15% of Jardine Strategic Holdings Ltd that it does not already own for about $5.5 billion to simplify the structure of the sprawling Asian conglomerate.

Singapore-listed Jardine Matheson, whose businesses include construction, aviation and automotive, has offered to pay $33 in cash for each Jardine Strategic share, representing a premium of 20% to the stock’s closing price on Friday.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter