Chow brothers forced to make full takeover offer for Chow Group

Tue, 29 Mar 2016

By Paul McBeth March 29 (BusinessDesk) - John and Michael Chow have been forced to make a full takeover offer for the shell they used for a reverse listing after the distribution of shares to their families triggered provisions in the Takeovers Code. The brothers reduced their personal holdings to a combined 88.4 percent from the 95 percent stake they received for selling two buildings to RIS Group, before renaming it Chow Group. Because they held more than 90 percent, the code required them to offer a "fair and reasonable" price to exis...

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