“We believe that the deal is likely to go through, considering the irrevocable undertaking from the parent company and attractive offer price. However, we downgrade to ‘hold’ as the current share price of 22 cents (as at 2.30pm on June 5) has almost reached the acquisition offer price of 22.66 cents,” he writes.
CGS-CIMB Research analyst Kenneth Tan has downgraded LHN Logistics (SGX:GIH
) to “hold” after the company received a voluntary conditional general offer from Shanghai-listed logistics company, Milkyway International Chemical Supply Chain.
Tan has also upped his target price to 23 cents, which is close to Milkyway’s offer price of 22.66 cents per share, from 18 cents previously.
