PETALING JAYA: Shareholders of construction and property outfit IJM Corp Bhd
should hold on to their shares and reject the offer made by Sunway Bhd as the recent slump in the former’s share price has widened the arbitrage gap from the time the deal was tabled, according to Kenanga Research.
Sunway had made the offer to buy all of IJM at RM3.15 a share in a cash-and-share deal that valued the company at RM11bil on Jan 12.
