|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||5.99 - 6.01|
|52 Week Range||5.99 - 6.01|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The messy battle to control China's largest producer of industrial gases has turned into a serendipitous victory for minority investors that could encourage more shareholder activism in Asia. The decision by Yingde Gases Group's shareholders earlier in March to oust five directors ended a four-month battle for control of the $1.6 billion company's board in a clash over how to improve its finances and business. The increase in public activist campaigns also highlights how investors including Elliott Management Corp, BlackRock Inc and Hong Kong-based hedge fund Oasis Management are becoming more public as they try to rally other minority shareholders to boost returns from laggard stocks.
Air Products and Chemicals Inc said on Friday it would drop a proposed $1.5 billion bid for China's largest producer of industrial gases, leaving the door open for a competing offer from Hong Kong-based private equity firm PAG. It gave no further reasons for its decision, which came less than a day after Yingde said its financial position could be "materially adversely impacted" following a management reshuffle. Yingde's profit warning sent its shares down 4.4 percent on Friday to close at HK$6.26.