DOUBLEDRAGON Corp. has announced a mandatory tender offer for the remaining shareholders of MerryMart Consumer Corp. as the listed conglomerate moves to deepen its push into retail and expand into a diversified investment holding company.
In a disclosure on Wednesday, DoubleDragon said the tender offer would run from May 18 to June 16, 2026, with shareholders of MerryMart to receive P0.48 per common share.
Payment will be made half in cash and half in DoubleDragon common shares valued at P9.30 apiece.
The offer price represents a 20-percent premium over MerryMart’s closing price of P0.40 per share as of May 8, while the P9.30 valuation for DoubleDragon shares is about 52 percent below the company’s latest book value of P19.21 per share, the company said.
The tender offer follows DoubleDragon’s planned acquisition of 2.66 billion MerryMart shares equivalent to a 35-percent stake for about P1.28 billion, based on the 30-day volume-weighted average price of MerryMart shares.
The transaction earlier secured clearance from the Philippine Competition Commission.
DoubleDragon said the acquisition would strengthen its ecosystem as an investment holding company, adding a consumer and retail component to its portfolio.
“MerryMart Group’s various formats in retail and wholesale as well as its pharmacy subsidiaries who are major pharmacy players in Quezon-Luzon and Zamboanga-Mindanao, and its dominant grocery business in Capiz province, [are] expected to create long-term value and synergy to DoubleDragon Group,” the company said.
It added that MerryMart generates more than P7 billion in recurring annual revenues mainly from its grocery, pharmacy and other consumer-related businesses.
DoubleDragon said the acquisition aligns with its long-term strategy that began in 2021, when it changed its corporate name from DoubleDragon Properties Corp. and shifted its primary purpose from property development to an investment holding company.
DoubleDragon’s share price rose by a centavo to close at P9.79 each on Wednesday.
