On July 10, GVT announced that Dutch semiconductor firm Aalberts Advanced Mechatronics has tabled a 94 cents per share offer, which is a 11.9% premium over GVT's share price just prior to the holding announcement of a possible share sale on June 1.
The 94 cents per share privatisation offer for Grand Venture Technology is below the $1.12 target price of DBS Group Research.
However, given that the key shareholders controlling nearly two-thirds of the shares have already agreed to sell, DBS believes that the offer, via a scheme of arrangement requiring 75% approval, will go through.
