KUALA LUMPUR: Willowglen MSC Bhd’s minority shareholders have been advised to reject a takeover offer of 80 sen a share as it is below the fair value ranging from 92 sen to RM1.01.
The independent adviser Mecury Securities Bhd said on Tuesday the offer price was lower than and was at a discount of 12 sen to 21 sen or 13%-20.8% over the range of estimated fair value per share based on the discounted cashflow valuation method of 92 sen to RM1.01.
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