HLIB Research said an ownership level above 75% would be the most favourable outcome for Sunway.
KUALA LUMPUR: Sunway Bhd
says the conditional voluntary take-over offer to acquire all the 3.51 billion ordinary shares in IJM Corp Bhd at an offer price of RM3.15 per share is proceeding.
In a filing with Bursa Malaysia yesterday, the diversified group said the proposed offer is proceeding in accordance with the rules on takeovers, mergers and compulsory acquisitions issued by the Securities Commission.
“The proposed offer is subject to the approval of the shareholders of Sunway to be sought at an EGM of Sunway to be convened,” it added.
On Jan 12, Sunway proposed a conditional voluntary takeover offer to acquire the entire 3.51 billion shares in IJM at an offer price of RM3.15 per share. It said it may nominate a wholly owned subsidiary as the recipient of the offer shares.
