Beneficial Holdings has withdrawn an offer to buy a major stake in Thunderbird Resorts.
The company withdrew its offer to purchase 80-100 per cent of the ordinary shares of the company for $2.12 per share, along with one share of BFHJ for each 10 shares of Thunderbird, after Thunderbird announced a 75,000,000 share public offering that may ultimatley dilute its current shareholders.
Beneficial said that it will continue to monitor the success of the offering to gauge whether the dilution of the present holders impairs the future goodwill of the company or if the share numbers offered were inflated and never meant to be sold in total.
