Mandarin Oriental shareholders OK Jardine Matheson deal

Jardine Matheson will acquire 11.96% of Mandarin's total issued shares.

Jardine Matheson subsidiary Bidco and Mandarin Oriental have agreed to acquire Mandarin’s 11.96% total issued shares that Bidco does not own.

Jardine and Mandarin agreed the terms of a recommended cash acquisition to Bidco in a court meeting, according to a bourse filing.

In the meeting, the majority of the independent Mandarin Oriental shareholders together represented over 75% of the votes cast, voted in favour to approve the deal, it added.

Sixty nine, or 95.83% of independent Mandarin shareholders voted in favour of the deal, versus 4.17% who voted against.

The number of votes in favour were 76.96 million and the votes against stood at 188,924.

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