Milkyway Chemical offers $0.2266 per share to take LHN Logistics private

The China-based supply chain service provider said its offer price is final.

Milky Way Chemical Supply Chain Service has made a voluntary conditional general offer to take LHN Logistics private following the latter’s completion of its pre-conditions.

In a bourse filing, LHN Logistics announced that the China-based supply chain service provider has offered to pay in cash $0.2266 per share.

Amongst the pre-conditions set by Milkyway is written consent from JTC Corporation to allow the change in ownership of LHN Logistics’ subsidiary Hean Nerng (HN) Logistics.

The ownership change also bore a fee of $4.12m.

Meanwhile, the majority of LHN Limited’s shareholders (99.99%) have already voted in favour to dispose of LHN Logistics.