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Cogent gets $1.02 per share cash offer from Cosco Shipping

Update

Cogent gets $1.02 per share cash offer from Cosco Shipping

PC Lee Published on Fri, Nov 03, 2017 / 6:00 PM GMT+8

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SINGAPORE (Nov 3): Cosco Shipping International has made a voluntary conditional cash offer to acquire all the issued ordinary shares of Cogent Holdings for $488.07 million.

The offer price is at $1.02 each, about 5.2% higher the last transacted price of 97 cents per share on Thursday. The company has no intention to revise the offer.

Cosco Shipping says the acquisition will give it control in one of Singapore's leading full service, integrated logistics service providers with a track record of over 40 years.

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