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Eton extends tender offer



By Jenniffer B. Austria | Posted on Dec. 08, 2012 at 12:00am |
[ manilastandardtoday.com ]
Eton Properties Philippines Inc., the real estate unit of tycoon Lucio Tan, extended the deadline for the company’s minority shareholders to participate in the tender offer.
Eton said in a disclosure to the stock exchange the deadline for the tender offer being conducted by major stockholder Paramount Land Equities Inc. was extended until Dec 12.
The deadline for the tender offer was originally set on Dec. 5.
The Securities and Exchange Commission earlier directed the property company to delay or postpone the tender offer period.
The conduct of the tender offer is a requirement for the company, which is seeking delisting from the stock exchange.
Eton said as of  Dec. 5, 44.07 million common shares were already tendered, out of the 73.79 million shares owned by the public.
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