(Bloomberg) -- Gulf Energy Development Pcl, Thailand’s biggest power producer by market value, will offer to acquire Intouch Holdings Pcl for as much as 169 billion baht ($5.4 billion).
The Bangkok-based company, controlled by billionaire Sarath Ratanavadi, will offer to buy 2.6 billion shares, or about 81% of Intouch, that it doesn’t currently own at 65 baht each, it said in an exchange filing. The offering price is 11% higher than Intouch’s close on Friday.
It will also tender for 100% of Advanced Info Service Pcl, the nation’s biggest mobile phone company controlled by Intouch, at 122.86 baht each.
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