Q & M Dental Group's (SGX:QC7) takeover offer for Aoxin Q & M Dental (SGX:1D4) closed Monday, June 16, according to a same-day filing with the Singapore Exchange.
As of the close of the offer, the company received valid acceptances amounting to 13,679,228 Aoxin Q & M Dental shares, or 2.67% of the total number of issued shares of the latter.
Accordingly, the offeror and concert party group now own, control, or have agreed to acquire 272,165,646
Aoxin Q & M Dental shares, representing roughly 53.21% of the latter's total number of issued shares, the filing said.
The takeover was triggered after Q & M Dental Group 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 Dental Group had offered SG$0.0321 in cash per Aoxin Q & M Dental share.
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