Deals
Billionaire Sy’s SM Rises on Property Merger Plan: Manila Mover
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SM Investments Corp., Philippine billionaire Henry Sy’s holding company, climbed to a record after it said it may merge its property units, which could unseat Ayala Land Inc. as the nation’s largest developer.
SM Investments is studying a proposal to merge units including SM Prime Holdings Inc., Vice Chairman Teresita Sy-Coson said in a mobile-phone message response to queries. The plan isn’t “finalized yet in terms of what companies will be included,” she said.