Posco and Lotte, the potential bidders for Daewoo International, will likely offer to buy out the entire 68% stake held by KAMCO, reported Money Today.
The article, citing an unnamed source, stated that both companies expressed willingness to buy more than the 50% stake in Daewoo International currently on offer, due to the fact that the conversion of USD 300m convertible bonds (CBs) in Daewoo International would start in July, so the actual stake could drop if holders of CBs turn them into shares.
The report added that both the bidders are equally eager about the acquisition, and therefore, are likely to offer a higher price for a larger stake.
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(Source: Money Today)
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