GLP Halts Share Trading Amid Bidding Battle

Global Logistic Propertie(GLP), subject of a bid battle between a Chinese consortium and a group led by private equity firm Warburg Pincus, asked for halt its shares trading today pending a release of an announcement.

GLP has strong leadership in warehouse development and management in China, Japan, and Brazil, and a strong No.2 position in the United States, with a strong track record of development profits, which has clients including Amazon. Early in the month it was reported by media GLP had received "firm proposals" from shortlisted bidders, including a management-backed Chinese group and another headed by Warburg Pincus.

- APMR News