Global Logistic Properties receives $3.38/share offer from Hopu-Hillhouse consortium; values company at $16 bil

SINGAPORE (July 14): Shares of Global Logistic Properties closed 22% higher at $3.29 on Friday on volume of 153.6 million.

The price surge comes after GLP announced it had agreed to a $3.38 per share offer from a China consortium comprising Hopu, Hillhouse Capital, Bank of China Group Investment, Vanke and SMG, which is owned by GLP chief executive Ming Mei.

The deal, which values the company at $16 billion, is set to be Asia's largest buyout by a private equity group.

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