The bidding war that has broken out for full control of Banks Holdings Limited (BHL) has escalated.
Trinidad and Tobago-based conglomerate ANSA McAL today raised its original $5.20 per share offer to $6.00, five days after its rival, SLU Beverages Limited, upped its bid to $5.60.
In a notice to shareholders this evening, ANSA McAL, which owns Caribbean beer brands Carib and Stag, explained that the improved offer represents a “$0.40 or 7.1 per cent premium to the price offered in the competing offer made to the shareholders on October 26, 2015 and a 140 per cent premium to the unaffected share price of $2.49 as at September 17, 2015”.
The offer expires on December 4, 2015. (SD)