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HNA said to be in advanced talks for $1.4 bil CWT takeover

Bloomberg Published on Thu, Apr 06, 2017 / 6:39 PM GMT+8

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SINGAPORE (April 6): HNA Group Co. is in advanced talks about making a formal takeover offer for logistics provider CWT after almost a year of exclusive talks, in a deal valuing the Singapore company at about $1.4 billion, people with knowledge of the matter said.

(See also: China's HNA in talks to take control of CWT for US$1 bil - sources)

The Chinese conglomerate is discussing a potential bid of around $2.30 per CWT share, according to the people, who asked not to be identified as the negotiations are private. HNA may announce the offer within the next week at the earliest, though it hasn’t yet reached a final agreement on all terms of the transaction, the people said, asking not to be identified as the information is private.