Oct
07
Li Ka-Shing’s CKI Sweetens Power Assets Bid to $12.4 Billion
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CKI also raises special dividend offer by 50% to HK$7.50/share
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Li Ka-Shing seeks to combine utility businesses for expansion
Cheung Kong Infrastructure Holdings Ltd. raised its offer for Power Assets Holdings Ltd. to $12.4 billion in stock as Li Ka-shing seeks to combine his utility businesses for further expansion.
Cheung Kong Infrastructure is proposing 1.066 CKI shares for each Power Assets share not already owned by Li’s companies, according to a filing with the Hong Kong exchange on Wednesday. It also boosted a special dividend it will pay to the combined company’s shareholders after the deal by 50 percent to HK$7.50 per share, requiring an extra $1.3 billion in payouts…
Li Ka-Shing’s CKI Sweetens Power Assets Bid to $12.4 Billion
