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Yida China sets deadline for takeover offer acceptance period

Yida China Holdings Ltd. released a circular that contains the expected timetable for Jiayou (International) Investment Ltd.'s mandatory unconditional cash offer for the company.

The offer period for acceptances will occur between Dec. 9 and Dec. 30, with the deadline for acceptances to take place by 4 p.m. Hong Kong time on the last day.

Yida China originally intended to issue the composite document for the offer Dec. 8, but the issue was delayed due to the parties requiring additional time to finalize, print and dispatch the document.

The company appointed Platinum Securities Co. Ltd. to serve as an independent financial adviser overseeing the offer.

An announcement of the offer results is to be made available publicly by 7 p.m. Hong Kong time Dec. 30.