Independent Adviser Recommends Rejection of Ambeon's Offer
HNB Investment Bank (HNBIB), acting as the independent adviser, recommends that shareholders of Myland Developments PLC (MDL) reject the mandatory offer made by Ambeon Capital PLC.
The offer price of Rs. 8.50 per share is below most of the company's fair-value estimates, according to HNBIB.
Copyright 2004 Wijeya Newspapers Ltd.
Author's summary: HNBIB advises against Ambeon's offer.
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