Fliway board backs $55.4M takeover by Singapore's Yang Kee Logistics

Wed, 25 Oct 2017

By Paul McBeth Oct. 26 (BusinessDesk) - Fliway Group's board is backing a $55.4 million takeover bid by Singaporean logistics firm Yang Kee Logistics which offers investors a 13 percent premium to its latest trading price, in a turbulent time for the transport firm since its listing in 2015. The Auckland-based company has signed up to a scheme implementation agreement with Yang Kee for the Singaporean company to pay $1.22 a share, winning over controlling shareholder D&G Hawkesby Trust and the blessing of the independent directors. Th...

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