First Philippine rejects KKR proposal to buy stake in power generation unit

FPH spurns KKR’s First Gen bid

MANILA, Philippines — First Philippine Holdings Corp. (FPH) has rejected US-based Kohlberg Kravis Roberts & Co.’s (KKR) proposal to acquire an additional stake in First Gen Corp., saying the P35-per-share offer failed to reflect its “true value.” The Lopez-led holding company said on Monday it had informed KKR that it would not pursue the private

First Gen plunges 19% after parent rejects KKR offer (FSGCY:OTCMKTS)

First Gen (FSGCY) shares plunged 19% on Monday after its parent, First Philippine (FPHHF), rejected a proposal from KKR (KKR) to acquire an 8.43% stake in

First Philippine rejects KKR proposal to buy stake in power generation unit

(Corrects company spelling in headline)Aug 17 : First Philippine Holdings Corp said on Monday it had rejected a KKR proposal to acquire an 8.43 per cent stake in First Gen Corp, saying it did not represent the power generation unit's true value.Here are some more details:• The stake buy would

First Philippine Rejects KKR’s $2.7 Billion First Gen Take-Private:

HedgeCo.Net — First Philippine Holdings said Monday it had rejected a KKR proposal to buy an 8.43% stake in First Gen and launch a tender for the power producer’s public float, telling the Philippine Stock Exchange the offer “does not represent First Gen’s true value.” The structure, reported by Reuters via CNA and in FPH’s disclosure as carried by Manila Bulletin, was a non-binding package: KKR would have bought the 8.43% slice from FPH at 35 p…