Offer for Maker of Singer: Berjaya Corp....
Offer for Maker of Singer: Berjaya Corp. (Malaysia) Berhard made a $211-million, or a $33-a-share, tender offer for the outstanding shares of SSMC Inc., the Shelton, Conn., maker of Singer sewing machines. The group, led by Malaysian investor Vincent Tan, already owns just under 10% of SSMC’s 7.1 million outstanding shares. SSMC had previously agreed to be acquired by Semi-Tech Microelectronics (Far East) Ltd. for about $23 a share plus $7 of preferred stock, totaling $220 million. SSMC said its board will meet to consider the Berjaya offer.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.