Templeton Rejects MBK’s Bid For AsiaPharm
This article was originally published in PharmAsia News
Templeton Asset Management has rejected AsiaPharm's cash buyout by Asia-based private equity firm MBK Partners LP, claiming behind-the-scene deals, which do not benefit minority shareholders. In February, MBK offered 357 million Singapore dollars ($252 million) for the company. Templeton, which holds about 4 percent of AsiaPharm shares, said AsiaPharm's executives and MBK have reached an agreement without minority shareholders' knowledge. The investment firm considers AsiaPharm as seriously undervalued in the deal as it believes the company has huge future potential. (Click here for more - Chinese Language)
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