Meta-Wisdom Tech and Home Control International (HKG:1747) delayed the closing date for acceptance of a takeover offer to Wednesday, citing a black rainstorm warning in Hong Kong, according to a Tuesday bourse filing.
Shares of Home Control, a maker of TV remote controls, surged 9% in recent trade.
The mandatory unconditional cash offer was triggered in late June after Meta-Wisdom acquired a 74.02% stake in Home Control from NHPEA IV Home Control, a Morgan Stanley private equity fund, for HK$230 million, or HK$0.6133 per share.
Meta-Wisdom is now required to purchase the remaining 131.7 million shares at HK$0.616 apiece in cash.
The offer had initially been scheduled to close on Aug. 5.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.