The power of social media marketing: Igniting consumer engagement and brand awareness
Unlock the power of social media marketing to ignite consumer engagement and boost brand awareness. Discover the keys to success in today's digital landscape.
Conglomerate San Miguel Corp. is planning to take control of affiliate Eagle Cement Corp. through a P97-billion deal as billionaire Ramon S. Ang consolidates his businesses.
Conglomerate San Miguel Corp. is planning to take control of affiliate Eagle Cement Corp. through a P97-billion deal as billionaire Ramon S. Ang consolidates his businesses.
SMC said in a stock exchange filing on Tuesday, its board of directors and the related party transaction committee authorized the acquisition of 88.5 percent of Eagle Cement, a publicly listed cement maker, at the approved price of P22.02 per share.
This was 43 percent higher than Eagle Cement’s last closing price of P15.40 per share. SMC will also launch a mandatory tender offer to Eagle Cement’s minority stockholders.
Advertisement
Ang is president and chief operating officer of SMC, one of the country’s biggest companies with businesses spanning food, drinks, power and infrastructure.
Ang is also chair of Eagle Cement, which is led by his son John Paul Ang, the company’s president and CEO.
It added the deal will “trigger notification and clearance with the Philippine Competition Commission.”
(with inputs from ANN)
Advertisement