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Sun Hung Kai rejects an `arguably worse' Quality HealthCare offer.
(From South China Morning Post)
Byline: Denise Tsang
An emerging boardroom feud at Quality HealthCare Asia has intensified with its largest shareholder, Sun Hung Kai & Co, rejecting a revised takeover offer by an executive director.
Brokerage Sun Hung Kai, which holds 28.53 per cent of the company, said yesterday the revised offer was "arguably worse" and remained "far too low".
Substantial shareholder CLSA Capital, with a 15.84 per cent interest, however, has not yet revealed its decision on the latest offer despite rejecting a revised cash deal in March.
Quality HealthCare operates a chain of clinics and homes for the elderly. …
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