CGS-CIMB in its latest report said: “The success of the takeover will largely depend on the take-up rate for the mandatory general offer."
PETALING JAYA: The cost for Felda to take over the remaining stake it does not own in listed unit, FGV Holdings Bhd
, is estimated at RM3.1bil based on a takeover offer price of RM1.30 per share, says CGS-CIMB Research.
On Monday, Felda proposed to take over FGV at RM1.30 per share, once it acquired the 13.88% stake held by Retirement Fund Inc (KWAP) and Urusharta Jamaah Sdn Bhd for RM658mil – this will raise Felda’s stake in FGV to over 50%.
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