Failed privatisation leaves Tan family holding 84% of LTKM

LTKM managing director Datuk Tan Kok

The results are in, and it looks like chicken egg producer LTKM Bhd has failed in its bid to get privatised by buying out minority shareholders at RM1.35 a share.

As of the end of the closing date on Wednesday, the total acceptances for the conditional offer was only 88.43%, which is 1.57% shy of the 90% acceptance level required for the deal to go through.