PETALING JAYA: Kenanga Investment Bank Bhd
(Kenanga IB) has recommended that minority shareholders of Apex Healthcare Bhd accept the takeover offer from Pharmora Investment Holdings Pte Ltd and its joint ultimate offerors.
Kenanga IB said the cash offer of RM2.64 per share is “fair and reasonable”, noting that the price represented a premium of 16.8% to 25.1% above the estimated value of RM2.11 to RM2.26 per Apex Healthcare share on a fully diluted basis using the sum-of-parts valuation method.
