KLK eyes IJM unit in takeover bid

Planter KLK resuming buying spree on vibrant CPO outlook. (File pic shows a KLK palm oil plantation). A potential acquisition of IJMP by KLK could see the latter’s total combined plantation land bank rising to almost 336, 000ha, according to information obtained from the respective companies’ website.

PETALING JAYA: Plantation company Kuala Lumpur Kepong Bhd (KLK) is expected to launch a takeover bid of IJM Plantations Bhd (IJMP) after the shares of both companies were suspended from trading in the afternoon session of trading yesterday.

IJM Corp Bhd, which has a 56.2% stake in subsidiary IJMP, was also suspended from trading as it prepares to announce a corporate proposal involving IJMP.