Lane Crawford gets nod to go private
South China Morning Post, 13-Jul-1999
Lane Crawford Deal Proceeds
Minority shareholders have approved the privatisation of Lane Crawford by Wheelock. Shareholders represented by abstained. We reveal the background to our thinking as the deal progressed. (12-Jul-1999)
Lane Crawford Document Released
The Scheme Document for the privatisation of Lane Crawford contains details of the investment portfolio and properties, as well as a comparison to Dickson Concepts which we find misleading. Read our summary. (17-Jun-1999)
Webb clears way for Lane Crawford privatisation
HK Standard, 15-Jun-1999
Key group of shareholders to abstain
South China Morning Post, 15-Jun-1999
Increased Offer for Lane Crawford
Following pressure from on behalf of minority shareholders, Wheelock has increased its offer to privatise Lane Crawford by 5.9%. The increased offer of $12.50 per A-Share is equivalent to the value of the company's property and investment portfolio, and fails to attribute any value to the retail business. We give our reaction. (14-Jun-1999)
Wheelock lifts Lane Crawford bid on hostility
South China Morning Post, 14-Jun-1999
Investors Respond to Lane Crawford Results
We give our initial views on the final results of Lane Crawford, in the context of the proposed privatisation which the investors represented by continue to oppose on the current terms. The results contain no surprises, but from the fresh figures we find that Wheelock is offering only $11.80 per A-Share for readily saleable assets worth $12.53 per A-Share and gets the retail business and brand for free. The sums just don't add up. (9-Jun-1999)
Sale of the Century at Lane Crawford
Wheelock is proposing to privatise HK-listed Lane Crawford by buying the 25% public shareholding at a substantial discount to its underlying value. We explain that by stripping out the property and blue-chip equity portfolio, Wheelock would essentially be getting the retail business for free. We intend to vote against the proposal unless the offer is raised. As we represent over 10% of the publicly-held B-Shares, the Scheme will not proceed without our support. (8-Jun-1999)

Sign up for our free newsletter

Recommend Webb-site to a friend

Copyright & disclaimer, Privacy policy

Back to top