KUALA LUMPUR: Yinson
Bhd has clarified that it has not made a decision on the RM4bil buyout offer from a consortium comprising MISC Bhd, the company's founding Lim family and the Employees Provident Fund.
The offer, which was received by Yinson's board on Nov 6, proposes that the consortium acquire the remaining 55.2% stake in the company for RM2.50 a share, valuing the group at RM7.31bil.
In a filing with Bursa Malaysia, the board of directors clarified that it was still deliberating on the proposed scheme and will decide on the next course of action by the deadline at 5pm on Dec 4, 2026.
Explaining the confusion, Yinson said in the filing that a director of the company had inadvertently signed the acceptance page of a copy of the proposal letter attached to the company's announcement on Nov 6. This led to a misunderstanding among certain news publications, which took the signature as acceptance of the offer.
"That signature was intended only to acknowledge receipt of the Proposal Letter on behalf of the company.
"It was not made pursuant to any decision or resolution of the board, and does not constitute, and should not be construed as, acceptance by the Company or the Board of the Proposed Scheme or of the terms of the Proposal Letter," said Yinson.
At the time of writing, shares in Yinson were down five sen to RM2.21 after 11.73 million units changed hands.
