By  on December 19, 2011

A subsidiary of the privately held Li & Fung Group offered to buy Hang Ten Group Holdings for more than $340 million.

Li & Fung’s Perfect Lead Investments arm is working with Citigroup Global Markets Asia and offered to pay 2.70 Hong Kong dollars for each of Hang Ten’s 982.3 million shares outstanding, a total purchase price of 2.65 billion Hong Kong dollars, or $340.6 million at current exchange.

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