Kenanga recommends 'accept offer' for IJM Plantations if MGO triggered

KUALA LUMPUR: In the event of a mandatory general offer (MGO) for shares in IJM Plantations Bhd by Kuala Lumpur Kepong Bhd (KLK), Kenanga Research has recommended stakeholders accept the proposed offer given its premium valuations.

The research house opined that the votes at IJM Corp's EGM are likely to be in favour of a disposal, which will trigger an MGO for the shares in IJM Plantations at the same offer price of RM3.10 a share plus 10 sen dividend per share.