SM Group’s holding company, SM Investments, will conduct a tender offer to make 2GO, a leading general logistics company, a wholly owned subsidiary and delist it. The company plans to purchase 378.82 million outstanding shares at a price of 14.64 pesos per share, with a total investment of 5.5 billion pesos. The tender will run from March 2nd to March 10th. 2GO was owned by former Duterte ally Dennis Ui, but in 2021 SM invested P6.6 billion to become its largest shareholder. (6th, Star)
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