CP All Plc's shares yesterday slid to their lowest level in four and a half years on worries that its offer price for Siam Makro Plc is too high.
The local operator of 7-Eleven convenience stores has offered 188.88 billion baht in the largest merger and acquisition in the global retail sector this year.
Its stock was suspended on Tuesday pending the deal's announcement. CP All traded at 38.50 baht, its lowest level since October 2008, at the opening bell yesterday, down from 43.50 at the close on Monday. It ended at 39 baht, down 4.50 baht, in trade worth 19.36 billion.
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