First Gen plunges 19% after parent rejects KKR offer

M&A · PartnershipPrice Action
โดย Seeking Alpha·PH·Read original
Summary · why it matters

First Gen shares plunged 19% on Monday after its parent, First Philippine, rejected a proposal from KKR to acquire an 8.43% stake in the Philippine power producer. KKR had offered to buy the stake from First Philippine, which owns 67.84% of First Gen. The proposed stake purchase would likely have triggered a mandatory tender offer for First Gen's public float and supported a voluntary delisting from the Philippine Stock Exchange. KKR's proposed transaction valued First Gen at about ₱165.44 billion, or $2.7 billion. KKR has yet to indicate whether it will revise its proposal, leaving investors focused on whether the private-equity firm will return with a higher offer.

Impact on stocks 1

Aging Population▲ · 1 stocks
KKR & Co. Inc.
KKR
± MixedCapitalrelevance

KKR's offer was rejected, but it may revise with a higher bid.

Off-coverage companies 2

First Gen CorporationPrivate▼ Negative
Capitalrelevance

Parent rejected KKR's offer, causing shares to plunge 19%.

First Philippine Holdings CorporationPrivate▼ Negative
Capitalrelevance

Parent rejected KKR's offer, impacting its subsidiary's stock.

© 2026 MarketDXNews