Sunway’s IJM takeover offer to close April 6

A fund manager said IJM has many “prized assets” and therefore, it was not a surprise if there are more than one offers for the conglomerate.

KUALA LUMPUR: Sunway Bhd’s proposed takeover offer of the entire 3.51 billion shares in IJM Corp Bhd will close on April 6 this year.

Sunway said IJM shareholders who are interested will have the time to consider starting yesterday until April 6 at 5pm.

Apart from that, the company has nominated its indirect wholly-owned subsidiary, Fortuna Gembira Enterpris, as the recipient of the offer shares for the proposed acquisition

“The offer is conditional upon Sunway having received, on or before the closing date, valid acceptances resulting in Sunway holding in aggregate more than 50% of the voting shares in IJM,” it said in a filing with Bursa Malaysia.

On Jan 12, Sunway proposed a conditional voluntary takeover offer to acquire the entire 3.51 billion shares in IJM Corp Bhd at an offer price of RM3.15 per share. — Bernama