PETALING JAYA: Genting Bhd
’s RM6.7bil takeover offer for Genting Malaysia Bhd (GenM) is seen as unattractive and undervalued, with the RM2.35 a share offer price implying an enterprise value to earnings before interest, tax, depreciation and amortisation (EV/Ebitda) multiple below its historical average and regional peers, analysts say.
Genting’s offer price of RM2.35 per share to privatise GenM represents a 9.8% premium over the latter’s last traded price of RM2.14 when the offer was announced.
