Melco PH tender offer set for Oct 31

    MCO Philippines, a subsidiary of Melco Resorts, is set to commence its tender offer for 1.6 billion common shares in Melco Resorts and Entertainment (Philippines) Corporation (MRP) on October 31, according to a recent filing.

    The company’s original tender offer was scheduled for October 22, with the purpose of privatizing Melco’s Philippines unit.

    However, on Friday, MRP announced that it had decided not to go ahead with its privatization plans, and has withdrawn its plans to voluntarily delist with the PSE.

    MCO announced it would continue with the voluntary tender offer, for the purpose of increasing its shareholding interest in the company.