Batu Kawan extends takeover offer deadline


Batu Kawan said in a statement yesterday the extension was to allow more time for CCM shareholders to accept the offer in view of the various forms of movement control orders imposed by the government which are currently in place.

KUALA LUMPUR: Batu Kawan Bhd has extended its takeover offer deadline for Chemical Company of Malaysia Bhd (CCM) from Jan 14, to Feb 2.

Batu Kawan said in a statement yesterday the extension was to allow more time for CCM shareholders to accept the offer in view of the various forms of movement control orders imposed by the government which are currently in place.

Batu Kawan said based on the level of acceptances of the unconditional mandatory takeover offer as of Thursday, the company and parties acting in concert hold 147.62 million shares or 88.03%.

Trading in both counters was suspended for an hour from 9am to 10am for the announcement.

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