CapitaLand itching to take over CapitaMalls Asia for $2.5b
CMA seen to delist.
CapitaLand intends to make a voluntary conditional cash offer for all the remaining ordinary shares in the capital of CapitaMalls Asia, CapitaLand's 65.3%-owned subsidiary, with a view to delist CMA.
The offer will be made at S$2.22 in cash for each offer share or around US2.45b. The offer, when made, will be extended to 1) all the Shares in issue; 2) all new Shares unconditionally issued or to be issued pursuant to the vesting and release of any outstanding awards granted under the Restricted Stock Plan and Performance Share Plan of CMA; and 3) all new Shares unconditionally issued or to be issued in payment of S$287,974 of directors’ fees payable to the directors of CMA for the financial year ended 31 December 2013