The price, a roughly 18 percent discount to CHP's current market price, is an initial estimate, subject to adjustment when the mandatory offer is officially filed.
The Consunjis are targeting up to 1.37 billion CHP shares, representing 10.14 percent of the company that it does not yet now.
Isla Lipana & Co. (PwC Philippines), an independent financial advisor, has confirmed that the P1.42 per share tender offer price is fair.
This assessment is based on various valuation methods, including the sum-of-the-parts approach, which valued CHP shares between P1.32 to P1.75 on a non-controlling basis.
Other methods, such as the market approach, showed values ranging from P1.36 to P2.19 for comparable companies, P1.18 to P2.08 based on precedent transactions, and P1.41 to P1.77 using the volume-weighted average price method.
