Q&M Dental Group (SGX:QC7) will make a mandatory unconditional cash offer for all the issued shares of Aoxin Q&M Dental (SGX:1D4), according to a Wednesday filing with the Singapore Exchange.
The takeover was triggered after Q&M Dental acquired 87.9 million shares in Aoxin Q&M Dental as part of a security enforcement agreement, which boosted the former's concert party equity interests in the latter to 50.53% from 33.33%.
Q&M is offering SG$0.0321 in cash per Aoxin Q&M share. The offeror does not intend to revise the offer price and has no plans to delist the target from the Singapore bourse.
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