PETALING JAYA: Shareholders of Integrax Bhd will now have to decide whether to listen to the company’s directors or M&A Securities, the independent adviser hired by Integrax.
Following the revised buyout offer by Tenaga Nasional Bhd (TNB) at RM3.25 per share, Integrax’s directors yesterday advised minority shareholders to reject the new offer, saying it still fell short of the revised net asset value (RNAV) of Integrax shares of between RM3.60 and RM3.66 per share.
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