Final results confirmed there were no availments or tendered shares during the offer period, which ran from March 19 to April 21 this year.
The tender offer, triggered by a change in control after tycoon Michael Cosiquien sold Ferronoux to the Themsis Group, whose principals have ties to the Okada Group, required the new owners to extend the same deal terms to other minority stockholders.
Non-majority stockholders own 128.29 million shares, or 37.53 percent of Ferrnoux, which was worth about P285 million at the tender offer price.
Lawyer Michelle Lazaro, the controlling shareholder of Themsis, was previously identified as the corporate secretary for Tiger Resorts, Leisure and Entertainment Inc., the operator of the Okada Manila integrated casino.
The acquisition of Ferronoux is part of a series of corporate moves that also includes plans to purchase P4.3 billion worth of prime land beside Okada Manila through a share-swap deal.
Recently, the Okada Group sold dormant listed firm Asiabest Group International to Leyte tycoon Francis Lloyd Chua.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
