Genting’s GenM takeover bid becomes mandatory as stake crosses 2% limit

Genting noted that all acquisitions were made at prices not exceeding the offer price of RM2.35 per GenM share.

PETALING JAYA: Genting Bhd has triggered a mandatory take-over offer (MO) for Genting Malaysia Bhd (GenM) after breaching the 2% acquisition threshold within a prescribed six-month period, converting its earlier unconditional voluntary offer into a mandatory one under prevailing takeover rules.

In a statement, Genting said it acquired a further 34.93 million GenM shares from the open market.