The Philippine Securities and Exchange Commission approved the application of food and beverage conglomerate San Miguel Corp. (SMC) for a tender offer for the minority shares of soft-drink manufacture…
The Philippine Securities and Exchange Commission approved the application of food and beverage conglomerate San Miguel Corp. (SMC) for a tender offer for the minority shares of soft-drink manufacturer Cosmos Bottling Corp., as reported by the Philippine Star in December 2001. SMC had previously agreed to acquire an 83.2% Cosmos stake of food and beverage group RFM Corp., and also agreed to make a tender offer for the remaining stake in Cosmos. The acquisition cost for all Cosmos shares is PHP 14 billion.