Minority shareholders, who held about 15% of Jardine Strategic, have previously complained that Jardine Matheson’s offer price represented a US$1 billion discount to the value of their holdings.
JPMorgan Chase & Co. documents and testimony are being sought in a suit alleging Hong Kong conglomerate Jardine Matheson Holdings Ltd.’s US$5.5 billion ($7.65 billion) buyout of a subsidiary was “coercive and fundamentally unfair” to minority shareholders.
In a filing Wednesday in Manhattan federal court, investors in the subsidiary, Jardine Strategic Holdings Ltd., asked for permission to file a subpoena on JPMorgan. The bank’s JPMorgan Cazenove Ltd. unit was the lead financial adviser to Jardine Matheson when it took the subsidiary private in April 2021.
