CCB takeover offer deemed reasonable


It advised minority CCB shareholders and its non-interested directors to accept the offer. The non-interested directors of CCB concurred with Kenanga’s findings.

PETALING JAYA: Kenanga Investment Bank Bhd or Kenanga IB, acting as an independent adviser, has stated that the RM2.70 a share unconditional voluntary takeover offer tabled by Jardine Cycle & Carriage Ltd for Cycle & Carriage Bintang Bhd (CCB) was from a valuation perspective “not fair but reasonable”, given that the stock will be delisted.

It advised minority CCB shareholders and its non-interested directors to accept the offer. The non-interested directors of CCB concurred with Kenanga’s findings.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

C&C , Cycle & Carriage , takeover , offer , reasonable

   

Next In Business News

Going gets tough for Malaysia ahead of 2023
Asia’s inflation still moderate
Steady residential sector
Bermaz rides on buoyant car sales
Headline inflation for August hits 4.7% year-on-year
Steel makers fear deepening crisis
Prospects for Covid-19 vaccine companies diminish
Short position: Glove makers, MREITs
No intervention likely to actively boost ringgit
Islamic fintech growing fast in the country

Others Also Read