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San Miguel and Metro Pacific Investments Corp. are said to be in talks to merge their toll businesses creating an entity worth $10bn, according to sources. If the deal is reached, it would be the country’s biggest ever merger, surpassing SM Prime Holdings Inc. $7.3bn acquisition of SM Land Inc. in 2013, according to Bloomberg. There was also a possibility of merged entity getting listed on Manila Stock exchange and that both the companies are also exploring several business combinations including that of their power and energy divisions. However, the considerations are still preliminary and the deal may not go through, the sources added.
San Miguel’s 5.5% Perp was trading stable at 96.5 cents on the dollar, yielding 8.2%
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