KUALA LUMPUR: Kenanga Research is bullish on Kuala Lumpur Kepong Bhd
's (KLK) RM1.58bil cash offer to acquire IJM Corp Bhd's stake in IJM Plantation Bhd, which it believes to be a fair price.
The research house said the offer of RM3.20 per share is 39% higher than its RM2.30 ascribed value for IJM Plantation.
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