Consumer goods supplier Li & Fung gets $930m take-private offer

The family that founded the world’s largest supplier of consumer goods, Li & Fung Ltd, is trying to take the company private in an HK$7.22 billion ($930 million) deal amid the double whammy of the U.S.-China trade war and the widening coronavirus pandemic.

A consortium of the Fung family — which started the trading business over a century ago — and Singapore-based GLP Pte Ltd., a logistics warehouse operator and investor, has offered HK$1.25 per share in the privatization deal, said a statement on Friday. That represents a premium of about 150% to the stock’s last closing price.

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