ESR Shares Jump After Receiving $7 Billion Takeover Offer
- Consortium offers to buy out ESR for HK$13 per share
- Some of ESR’s biggest shareholders have committed to sell
The Hong Kong skyline.
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
Shares of Hong Kong-listed ESR Group Ltd. climbed the most in almost seven months after receiving a binding takeover offer that valued the warehouse operator at about $7 billion.
A consortium proposed to acquire all ESR shares for HK$13 each and take the company private, according to an exchange filing on Wednesday, which confirmed an earlier Bloomberg News report. The offer represents a premium of more than 55% to the undisturbed share price of HK$8.35 in April.