Asahi extends Charlie’s offer by 14 days to Sept. 2, reaches 75.2% of target
Aug. 4 (BusinessDesk) – Japanese brewer Asahi Group has extended its takeover offer for Charlie’s Group Ltd. by 14 days until Sept. 2, saying it has received acceptances for 75.2% of the juice and soft drink company.
The 44 cents-a-share offer is conditional on reaching 90% acceptances, allowing Asahi to compulsorily acquire the remaining shares.
The brewer reiterated that 44 cents is at the upper end of an independent valuation range of 41 cents to 45 cents. The offer values Charlie's at $129 million.
The shares last traded at the offer price.