March 23, 2020 / 1:34 AM / 7 days ago

Li & Fung set to surge after $931 million take-private offer

HONG KONG (Reuters) - Shares of global sourcing and logistics group Li & Fung Ltd (0494.HK) were set to open up 108% on Monday after it said it had received an offer worth $931 million to take the company private.

The opening price was set to be HK$1.04, versus the offer price of HK$1.25 per share, representing more than double the Friday close of HK$0.50 apiece.

Reporting by Clare Jim; Editing by Kim Coghill

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