Tale of two transactions seeking greater control

LAST week, this column discussed distorted market valuation methods that could hide a true fair value of a company, and this week, another perspective on valuation is presented to give readers points to ponder as to whether these transactions are seen as fair or otherwise.

Interestingly, both the transactions discussed this week involve two of Malaysia’s largest corporates and are index constituents of the FBM KLCI. The first transaction involves the acquisition of the remaining 30.95% stake in Maybank Ageas Holdings Bhd by Maybank for RM4.83bil from Ageas International Holdings NV.