Hanwha has raised its offer to acquire Dyna-Mac to S$0.67 per share, a 35.4% premium over the last traded price before its initial offer of S$0.60 per share. This improved offer follows resistance from Dyna-Mac’s largest shareholder, the estate of founder Desmond Lim, which found the previous bid undervalued the company’s potential. Lim’s estate holds a 28.36% stake, while Hanwha controls around 24%. Hanwha has stated this offer is final but may explore other strategic options if it fails. The acquisition would give Hanwha access to Dyna-Mac’s oil and gas manufacturing facilities in Singapore.
Dyna-Mac Takeover: Korea’s Hanwha Raises Offer
