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Ant Group's tender offer to acquire Bright Smart Securities has been approved
Why can the approval of AI acquisition instantly boost the stock price of Yau Tai Securities?
[Ant Group’s tender offer for Yau Tai Securities has been approved] According to Caixin on March 16, Caixin reporter learned that Yau Tai Securities announced tonight that the tender offer initiated by Ant Group has been approved by relevant Chinese authorities, and the settlement is expected to be completed by March 30. This means the most critical part of the acquisition has now been completed. The announcement also mentioned that the company’s stock was briefly suspended on the 16th and will resume trading when the market opens on the 17th. (Caixin reporter Yan Jun)