Philippine conglomerate SM Investments Corp is launching a 5.5-billion pesos ($90 million) tender offer to buy out minority stockholders of logistics firm 2GO as part of efforts to take the company private, according to a disclosure.
SM Investments told the Philippine Stock Exchange that it would pay investors 14.64 pesos for each of the 378.82 million common shares in 2GO that they hold, as approved by its board on Monday.
