(Sharecast News) - Shareholders of Hong Kong's CK Asset Holdings have approved its £2.7bn takeover of London-listed pub chain Greene King.
At an extraordinary general meeting earlier on Wednesday, 99.4% of CK Asset Holdings shareholders backed the deal, while just 0.6% opposed it.
Shares of the pub company surged back in August after it agreed to be bought by a subsidiary of CK Asset Holdings, the flagship of the CK Hutchison Group, for 850p a share in cash.
The offer, which implies an enterprise value of £4.6bn for Greene King, is a premium of about 51% to the closing share price the day before it was made and was deemed by the company's directors to be "fair and reasonable".
Chairman Philip Yea said at the time: "The Greene King board is confident in the long term prospects of the business but believes this offer represents a good opportunity for shareholders to realise value for their investment at an attractive premium, while also ensuring the future success of Greene King for employees, partners, customers and suppliers."
26 Apr 2021 15:20
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