A BID by investment firm Blackstar to acquire SA’s Mvelaphanda Group in a R1,9bn deal collapsed yesterday, after shareholders argued Mvela’s unbundling would create more value than Blackstar’s cash and shares offer.
The offer was yesterday described as an attempt to pick up Mvela’s lucrative assets at a "discount".
The failure of the bid, which was announced just two weeks ago, will hamper Blackstar’s ambitions of using SA as a springboard for its planned investment drive into the rest of Africa. [Businessday]
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