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ICBC Submits Tender Offer for All Shares in Thailand’s ACL Bank

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Industrial & Commercial Bank of China Ltd. submitted a tender offer to buy all shares in Thailand’s ACL Bank Pcl for 11.5 baht apiece, according to a statement from the Bangkok-based company to the stock exchange.

The tender offer period will run from March 9 to April 16, the statement said. ICBC received Thai government approval on Feb. 22 to buy a majority stake in ACL.

via ICBC Submits Tender Offer for All Shares in Thailand’s ACL Bank – BusinessWeek.

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