Singapore Stock Signals : HTL receives offer from Yihua Group to acquire all issued shares at $1 each in cash .

SINGAPORE (June 23): Leather furniture distributor HTL International has received an offer from Ideal Homes International to acquire all its issued shares.

Ideal Homes plans to acquire all 399.8 million issued shares for $1 each. This is 20% higher than HTL last traded price of 80 cents on June 17.

This offer values HTL at nearly $400 million.

Ideal Homes is a wholly owned subsidiary of Shanghai-listed wood furniture and floor manufacturer Yihua Group.

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