PETALING JAYA: Utama Banking Group Bhd (UBG) accepted the multi-billion ringgit bid from Kuwait Finance House (M) Bhd (KFH) yesterday but is now faced with a fresh RM8.75bil offer for the Rashid Hussain Bhd (RHB) group from EON Capital Bhd.
The offer from EON Capital is for the securities of RHB at RM1.80 a share and RHB Capital Bhd at RM4.80 a share. EON Capital, which received the nod from Bank Negara to go ahead with its offer, also proposed to buy all RHB irredeemable convertible unsecured loan stocks (Iculs) at RM1.85 each and warrants at 1 sen each.
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