IOI Corp's bid triggers mandatory general offer acquisition of Unico-Desa

KUALA LUMPUR: Plantation giant IOI Corp Bhd has launched an RM1bil takeover of Unico-Desa Plantations Bhd at RM1.17 a share, just slightly below the latter’s last traded price.

The hardly-traded Unico-Desa had seen its shares being actively traded and hitting a high of RM1.30 last week, after speculation on a possible sale of a major block of its shares emerged.