KKR aims to acquire Singapore's MMI Holdings

KKR makes a play to delist the precision engineering company, valuing the business at $660 million. The price disappoints MMI shareholders.

Private equity firm KKR announced on April 5 that it plans to acquire SingaporeƆs MMI Holdings, a precision engineering firm which makes parts for computer hard-drive manufacturers, valuing MMI at S$1 billion $660 million. Shareholders disappointed by the valuation pushed MMI's shares down by 4%.

The acquisition and subsequent delisting are being effected through a scheme of arrangement. To go through, it requires 75% of MMI shareholders by value to approve the deal at a specially convened meeting....

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