Just hot off the press – Adampak has been offered to be bought over by Navis Capital at $0.42/share (Offer Price). Current market price is at $0.345. This is a premium of 21.7%. For more information, check out the SGX announcement.
Adampak has been halted from trading since 30th March 2012, pending this announcement. Trading is still halted at the time of writing. At the price of $0.42/share, the P/E ratio works out to be 17.4. This will be the highest ratio ever since FY 2005. The ratio is high due to the decrease in earnings for FY2011, mainly due to the Thailand flooding.
For most shareholders, I guess it will be a bittersweet moment as they will be unwilling to let a gem go but at the same time, cash in due to the uncertainties surrounding the HDD market.