PETALING JAYA: MMC Corp Bhd's proposals to acquire Senai Airport Terminal Services Sdn Bhd (SATS) for RM1.95bil and general offer for Aliran Ihsan Resources Bhd (AIRB) at 90 sen a share were poorly received in the market yesterday.
MMC fell sharply by 61 sen to RM2.12 a share, its lowest in 1½ years, erasing RM1.86bil of market value from the stock, a huge sum almost as much as the proposed acquisition cost for SATS. MMC's total market value was RM6.45bil at yesterday's price.
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