Aalberts Advanced Mechatronics proposed to acquire outstanding shares of engineering firm Grand Venture Technology (SGX:JLB) through a scheme of arrangement at SG$0.94 per share, according to a Thursday filing with the Singapore Exchange.
Grand Venture's major shareholders with 64% holdings have provided irrevocable undertakings to vote in favor of the scheme.
The transaction remains subject to customary conditions, including approvals from shareholders and the Singapore High Court.
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