With reference to the article “Adventa Bhd hit limit up yesterday on speculation that it could be a potential acquisition target by a healthcare firm based in the US.” which appeared in the Edge Daily on 24th December 2010, the Board of Directors of Adventa Berhad ( “Company “) wishes to state that they are presently not involved in any discussions of any intended acquisitions of Adventa with a US firm. The Company periodically receives expressions of interest on an exploratory basis from other parties but there has been no material change in circumstances.
This announcement is dated 24 December 2010.
My view:
At 12.33pm I mentioned that Adventa is not that attractive for takeover, didn't expect Adventa to reply to Bursa query so fast. Well, normally Company take up to 1 day, meaning Adventa can choose to release the query after market close.
Why do they instead choose to release the info during lunch time? This is very interesting, let's wait and see what will happen.
But if I am the US firm, the maximum that I want to pay will be the 6.8x forward PER (same PER as LATEXX), meaning maximum I want to pay is RM2.09 per share for Adventa. What does not mean? Temporary avoid ADVENTA until it drop below RM2.09...
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