Today will see a race of three potential bidders, Texas Pacific Group (TPG), South Korean Hankook Tire Corp, and Japanese Yokohama Tire Corporation, to acquire more than 40% stake of Indonesian tire maker PT Multistrada Arah Sarana Tbk (MASA).
Although Multistrada spoke person Even Goh denied the acquisition deal, MASA shares have skyrocketed 114.28% in the last 6 months to Rp570 per share, breaking all time high. If there is no talks with the takeover deal, MASA shares won't break the highest record. Price will not tell lie. At the price the bidders will show their appetite for Multistrada, please read the remaining stories.
Disclosure: No position at the stock mentioned above.
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