Offer for Hovid deemed fair and reasonable

In a circular to shareholders yesterday, AmInvestment Bank said the offer price of 38 sen is higher than the ascribed equity value of 24 sen to 28 sen per share and represented a premium of 10 sen to 14 sen

PETALING JAYA: The takeover offer for pharmaceutical firm Hovid Bhd by its major shareholders at 38 sen per share has been deemed “fair and reasonable,” according to the company’s independent adviser AmInvestment Bank.

In a circular to shareholders yesterday, AmInvestment Bank said the offer price of 38 sen is higher than the ascribed equity value of 24 sen to 28 sen per share and represented a premium of 10 sen to 14 sen.