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The latest update is out from Jardine Matheson Holdings ( (GB:JARB) ).
Jardine Matheson Holdings, through its subsidiary Jardine Strategic Limited, has announced a recommended cash acquisition of the remaining shares of Mandarin Oriental International Limited that it does not already own. This acquisition will be executed via a scheme of arrangement under the Bermuda Companies Act. Concurrently, Mandarin Oriental has agreed to sell the top thirteen floors of One Causeway Bay in Hong Kong to Alibaba Group and Ant Group for $925 million, which will include a special dividend for shareholders. The acquisition offers a 52.3% premium over the previous share price, indicating a strategic move to consolidate its holdings and enhance its market position.
More about Jardine Matheson Holdings
Jardine Matheson Holdings is a diversified Asian-based group with operations in various sectors including property, retail, and luxury hotels. Mandarin Oriental International Limited, a part of this group, is renowned for its luxury hotels and resorts, catering to high-end clientele across the globe.
For an in-depth examination of JARB stock, go to TipRanks’ Overview page.