Independent adviser deems KUB Malaysia takeover offer ‘not fair and not reasonable’, tells shareholders to reject offer
08 Feb 2024
KUALA LUMPUR (Feb 8): Independent adviser Inter-Pacific Securities Sdn Bhd has deemed the unconditional mandatory takeover offer for KUB Malaysia Bhd by JAG Capital Holdings Bhd major shareholder Datuk Seri Johari Abdul Ghani as “not fair and not reasonable”, advising shareholders to reject the offer.
According to a circular note in KUB’s bourse filing on Thursday, Inter-Pacific said that the offer price of 60 sen per share is unfair, representing a discount ranging between 68 sen (53.13%) and 73 sen (54.89%) over the estimated value per KUB share derived using the sum-of-parts valuation (SOPV) methodology, ranging from RM1.28 to RM1.33, before completion of the takeover.
Choy Nyen Yiau (2024, Feb 8) Independent adviser deems KUB Malaysia takeover offer ‘not fair and not reasonable’, tells shareholders to reject offer
Retrived from https://theedgemalaysia.com/node/700358
