ESR Takeover Talks Draw Out on Valuation Concerns, Sources Say
- Consortium offer falls below some shareholders expectations
- Warburg Pincus, QIA, ESR founders joined bidding consortium
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A potential buyout of Hong Kong-listed ESR Group Ltd. is drawing out as shareholders struggle to agree on a price for the company, according to people familiar with the situation.
While discussions are ongoing, more time is also needed to complete due diligence on the logistics and warehouse firm’s global assets, the people said, asking not to be identified discussing a private matter. ESR’s fragmented ownership represents a key hurdle to a take-private deal as they have different value expectations and it would take only a few opponents to block the transaction, the people said.