06:37 AM EDT, 08/30/2021 (MT Newswires) -- Kerry Logistics Network's (HKG:0636) financial adviser urged shareholders to accept SF Holding's (SHE:002352) takeover offer of HK$17.55 billion ($2.3 billion), according to a late Friday disclosure.
Somerley Capital, a financial adviser hired by Kerry Logistics to make recommendations regarding the takeover bid, said the deal was "fair and reasonable" and should be accepted by shareholders.
SF Holding, one of China's largest courier companies, is offering to buy a 51.8% stake in Kerry Logistics as it seeks to become a leading global logistics platform. Kerry shareholders have until Sept. 2 to accept the takeover offer.
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