The Age
January 7, 2008 - 7:11AM
Air China's parent vowed on Sunday to pay at least 32 per cent more for a coveted slice of China Eastern than rival suitor Singapore Airlines had agreed to, upping the ante in their contest for China's No.3 carrier.
In an 11th-hour attempt to derail Singapore Air's and Temasek Holdings' year-long effort to buy 24 per cent of China Eastern, Air China's parent pledged to pay at least HK$5.00 a share if stockholders were to reject Singapore's HK$3.80 offer at a Tuesday shareholders' meeting.
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