MBM
PETALING JAYA: UMW Holdings Bhd
’s quest to acquire the majority stake in MBM Resources Bhd may turn out to be a long-drawn affair, given the diversified conglomerate’s strong set of institutional shareholders who have the tenacity to hold out for a better offer.
UMW has extended the acceptance period for its acquisition offer to April 30 from the initial March 28 deadline, in a bid to allow for any change of mind by MBM’s major shareholders, Med-Bumikar Mara Sdn Bhd and its wholly-owned subsidiary, Central Shore Sdn Bhd (CSSB).
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