HONG KONG -- Property tycoon Peter Woo and his family plan to take flagship conglomerate Wheelock & Co. private, acquiring all remaining shares of the Hong Kong enterprise.
Each Wheelock share will be exchanged for one share each in subsidiaries Wharf Holdings and Wharf REIC, together with a cash payment of 12 Hong Kong dollars ($1.54), according to Thursday's announcement. This transaction represents a 52% premium based on the Feb. 21 closing prices.
