Deals
Billionaire Quek Makes $1.1 Billion Bid to Buy Out Guoco
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A group led by Malaysian billionaire Quek Leng Chan offered HK$8.25 billion ($1.1 billion) to take Guoco Group Ltd. private after the financial and real-estate company trailed a rally in Hong Kong stocks.
The group is offering HK$88 a share, 25 percent more than the closing price before the stock was suspended on Dec. 4, according to a statement to the Hong Kong exchange. Guoco jumped as much as 29 percent in morning trading.