Felda offer of RM1.30 a share for FGV not fair, reject offer

FGV's non-interested directors are unable to, with clear conscience recommend the Offer as “Reasonable” to the minority shareholders of FGV, which also include settlers and employees of FELDA and FGV respectively.

KUALA LUMPUR: FGV Holdings Bhd’s five non-interested directors say the Federal Land Development Authority’s (Felda) offer of RM1.30 a share as not fair and advised minority shareholders to reject the offer.

In their recommendation on Friday, they said they have “not concurred” with RHB Investment Bank’s independent advice to accept the offer.