PHINMA Drops Tender Offer for Laguna College of Business and Arts

Makati—(PHStocks)—In its disclosure dated April 4, 2017, PHINMA Education Holdings Inc. (PHINMA Education)—the education arm of PHINMA Corp. (PSE: PHN)—intended to do a tender offer to acquire at least 55% of Laguna College of Business and Arts (LCBA). The disclosure states that the tender offer was subject to the announcement of the final schedule of the tender offer period.

After determining that less than a majority of the stockholders of LCBA will sell their shares, PHINMA Education has decided not to proceed with the tender offer.