Suntory targets full control of Cerebros02 August 2012Suntory Beverage has offered S$364.8 million to take full control of Singapore-based health supplements Cerebros. Suntory currently owns 82.6% of Cerebros and has offered S$6.60 per share in cash for the remaining 55.3 million shares the company does not currently own. The price represents a 23% hike on the last traded price of shares which stood at S$5.38 on 30 June. “The delisting and exit offer will allow the company to realize cost savings by eliminating listing, compliance and other related costs,” said a Suntory statement. As a non-listed company, “Cerebos will enjoy greater operational flexibility and efficiency in implementing its strategic initiatives,” added the Osaka-based firm. If successful, the proposed deal would value Cerebros at around S$2 billion. | |
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