Is this another case of “What Manny Pangilinan wants, Ramon Ang will also try to get”?
This question emerges as reports regarding purported interest by Ramon Ang, president of conglomerate San Miguel Corporation (SMC), to acquire a 30% equity stake in GMA Network Inc. (GMA7) surfaced last week.
Top Frontier Investment Holdings Inc. (TFHI), the single largest shareholder of conglomerate San Miguel Corporation (SMC) has secured approval from the Philippine Stock Exchange (PSE) to list its shares on the PSE next year.
Top Frontier Investment Holdings owns a major stake in SMC but, interestingly, the conglomerate SMC is also the biggest shareholder of Top Frontier.
A few days ago, I drove by a Petron outlet to gas up and noticed a poster advertising San Miguel Corporation (SMC)‘s public offering of its “Series 2” Preferred Shares. There’s nothing illegal about the advertisement. SMC is a primary stockholder of Petron Corp. and they can advertise anything in any of their Petron branches.
It’s confirmed: Ramon Ang of San Miguel Corporation (SMC) is interested in acquiring a substantial interest in the country’s carrier Philippine Airlines. Ang himself confirmed this in a report by ABS-CBN News.
San Miguel Corp. is said to be in the middle of due diligence at present where they look into the financial statements and operations of PAL before making a final bid amount.
Eduardo “Danding” Cojuangco is the rightful owner of the contested 20% shares of San Miguel Corporation (SMC), the Philippine Supreme Court ruled with finality today.
The Supreme Court (SC) struck down the appeal of the government, represented by the Philippine Commission on Good Governance (PCGG), saying the petitioner failed to substantiate its claim that the SMC shares were part of Cojuangco’s ill-gotten wealth allegedly acquired during the reign of ex-President Ferdinand Marcos.
Another bidding war is supposedly in the making between the two groups allegedly responsible for the 275% increase in the price of Meralco (MER) during the last 7 months.
The latest battlefront: Philex Mining Corporation (Stock Code: PX).
If you’re currently following the Philippine stock market, you’re most probably aware of the continuous surge in the price of Meralco (Stock Code: MER).
The stock of the power utility company was one of the Philippine Stock Exchange (PSE)’s biggest gainers during the first half of 2009.
As of July 31, it was up by a staggering 275% from its P58.00 price in January. In the month of July alone, the stock more than doubled in value, closing at an all-time high of P295.00 in July 29.
In what is touted as the biggest corporate bond issue in the Philippines, beer company San Miguel Brewery, Inc. (SMB) successfully raised P38.8 billion or US$800 million during this week’s sale of its fixed-rate bonds.
