KUALA LUMPUR: Milux Corp Bhd
has received an unconditional mandatory takeover offer notice at 43.2 sen per share from several joint offerors to acquire the remaining shares not held by them.
In a filing with Bursa Malaysia, Milux stated that the joint offerors for the offer are Lim Aik Hoe, Lim Aik Kiat, and Mak Wai Hoong, who are directors and shareholders of the offeror and serve as the joint ultimate offerors.
The offer price of 43.2 sen is at a discount to the home appliances distributor's last traded price of 57.5 sen.
On Nov 8, ABS Capital Sdn Bhd entered into eight unconditional share purchase agreements with various vendors to acquire 150.14 million shares in Milux, representing a 63.88% equity interest, for RM64.86mil in cash, or 43.2 sen per share.
Upon completion of the acquisition, the offerors' equity interest in Milux will increase from nil to 63.88%.
Accordingly, the offeror is required to make an unconditional mandatory take-over offer to acquire all remaining Milux shares not already owned by the offeror and joint ultimate offerors, at a cash offer price of 43.2 sen per share.
The joint offerors intend to maintain the listing status of Milux on the Main Market of Bursa Securities.
