China: Guangzhou raises Denway bid

Guangzhou Automobile Group has raised its bid to acquire the remaining 62% of Hong Kong-traded affiliate Denway Motors, reports the Wall St Journal. In May, Guangzhou offered shareholders 0.37861 new Guangzhou Auto shares for every Denway share it does not own. This has now been lifted to 0.474026 new Guangzhou Subscribe to Automotive World to … Continued

• By Webmaster
• June 8, 2010