The Bidders are offering to purchase all the outstanding common shares of MPIC, excluding those already owned by the Bidders and the members of the Board of Directors with respect to their qualifying common shares. These outstanding shares amount to approximately 10.5 billion common shares, representing around 36.73% of the total outstanding common shares as of June 30, 2023. The price set for the tender offer is ₱5.20 per share.
 MIG is in the process of acquiring approximately 31.6 million common shares, including shares owned by Manuel V. Pangilinan. Such shares shall form part of the Excluded Shares for purposes of the Tender offer.