China Minzhong Food Corporation

[a74henry]

The shortsellers will be bleeding losses for choosing the wrong target. Playing against the billionaire with deep pockets is like gambling against the odds. Surely, the odds are not in the shortsellers favor.

[Wildreamz]

Original Article 5th September 2013:
http://www.businesstimes.com.sg/premium/...s-20130905

CMZ's Response 9th September 2013:
http://infopub.sgx.com/FileOpen/CMZ_Resp...eID=255592

The SEC Vs. SAIC Fact Finding Mission
http://voices.yahoo.com/the-sec-vs-saic-...84624.html

[Wildreamz]

9th September Indofood increased holdings in China Minzhong via market transaction at the price of 1.12 SGD from 59.48% to 60.08%.

5th September Credit Suisse AG ("CSAG") reduced stake from 7.1831% to 6.9524%

The change in interest of CSGAG arises by way of:
1) its subsidiary's disposal of 783,000 CMFC shares via market transactions.
2) its subsidiary's stock borrow returned of 729,000 CMFC shares.
In the provision of prime brokerage services to the beneficial owners, CSAG's subsidiary has the rights of use of the shares held and is deemed to have an interest in such shares.

6th September Credit Suisse AG ("CSAG") reduced stake from 6.9524 to 4.9448%.

[Wildreamz]

I missed out an important news for all CMZ investors:

MISCELLANEOUS :: MANDATORY UNCONDITIONAL CASH OFFER FOR CHINA MINZHONG FOOD CORPORATION LIMITED - OFFER DECLARED UNCONDITIONAL IN ALL RESPECTS - APPOINTMENT OF INDEPENDENT FINANCIAL ADVISER

The Board wishes to inform Shareholders that it has on 6 September 2013 appointed PricewaterhouseCoopers Corporate Finance Pte Ltd (the "IFA") as the independent financial adviser to advise the directors of the Company who are considered independent for the purposes of the Offer (the “Independent Directors”). A circular containing, inter alia, the advice of the IFA and the recommendation of the Independent Directors in relation to the Offer (the “Offeree Circular”) will be sent by the Company to Shareholders within 14 days from the date of despatch of the Offer Document to be issued by or on behalf of the Offeror to Shareholders.

Important Dates to Note:
Unconditional Offer announcement date is 4th September 2013, hence:

1. Offer document must be dispatched earliest by 18th September 2013, latest by 25th September 2013.

2. Offeree Circular, including PwC's (a Big 4 auditing firm) financial advice must be dispatched within 2 weeks of release of offer document.

Reference: SINGAPORE CODE ON TAKE-OVERS AND MERGERS

Possible scenarios due to independent financial review by PwC:

1. Scam (accounting irregularities, inflated earnings, inflated assets) exposed, share worthless (will the unconditional offer still be enforced?)

2. Detailed financial review by PwC indicates no scam (improved investor confidence?) Stronger financial backing due to Indofood controlling interest. Possible synergy between CMZ and Indofood.

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Indofood launches bid for China Minzhong (02 Sep 2013): Video (Including CEO Lim Guo Rong's comments during 02 Sep 2013 Press Conference)

China Minzhong saga casts spotlight on S-chips (03 Sep 2013): Video

[Wildreamz]

Indofood seeks loans to finance bid for CMFC

11th September 2013 Indofood increased stake from 60.08% to 60.47%.

12th September 2013 Indofood increased stake from 60.47% to 60.75%.

13th September 2013 Indofood increased stake from 60.75% to 62.11%.

[Wildreamz]

16th September 2013 Indofood increased stake from 62.11% to 62.19%.

Expect to the offer letter to be sent out tomorrow.

[specuvestor]

My guess is Indofood probably got consensus from mgt and major shareholders not to sell to them. I'll be very surprised if their stake cross 75%

[Wildreamz]

My guess is Indofood probably got consensus from mgt and major shareholders not to sell to them. I'll be very surprised if their stake cross 75%

Well I am not sure how Indofood can convince other majorshareholders, but you are probably right on the numbers.

Templeton (11%), Credit Suisse AG (6.9524%), and UBS AG (3.955%) already holds around 22% and the management (6.64%) has irrevocably rejected the offer, the remaining free float is around 71%.

So far, seems like only retail investors selling, lets see how it plays out.

[specuvestor]

Frankly not difficult to convince Not as if they can find another white knight soon to save their plunging share value

[Wildreamz]

17th September 2013 Indofood increased stake from 62.19% to 62.40%.