(RTTNews) - Through its fully owned subsidiary Jardine Strategic, Jardine Matheson Holdings Ltd. (J36.SI) has agreed on Friday to purchase the remaining 11.96 percent of Mandarin Oriental International Ltd. that it does not currently own.
Under Bermuda law, a scheme of arrangement will be used to carry out the $4.2 billion deal. In addition to the $0.60 special dividend associated with the $925 million sale of the upper floors of One Causeway Bay in Hong Kong to Alibaba and Ant Group, Mandarin Oriental shareholders will receive US$3.35 per share.
The offer is 52.3 percent higher than the stock's most recent unaffected price. The plan is anticipated to go into effect on February 28, 2026.
J36.SI closed Friday's trading at $61.13, up $0.48 or 0.79 percent on the SES.
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