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Article: Philippines: Ongpin-led Boerstar wants to buy controlling stake in Atok Big Wedge.
- Article from:
- TendersInfo
- Article date:
- September 30, 2009
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THE private investment company of former trade minister Roberto V. Ongpin is nearing a deal to buy a controlling stake in listed mining firm Atok Big Wedge Co. Inc.
In a disclosure to the local stock exchange, Atok Big Wedge said it has received a firm proposal from holding firm Boerstar Corp., which plans to subscribe to all unissued shares or nearly 58 percent in the miner.
Boerstar will also launch a tender offer for shares held by minority stockholders allowing it to own 80 percent of Atok Big Wedge. ?Under the Securities Regulation Code, a company that buys at least 35 percent of a certain entity must offer to buy the shares held by other ...