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Newst will be 12 months before Petronas can relaunch takeover offer for MISC
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t will be 12 months before Petronas can relaunch takeover offer for MISC
by hlk Wed 24 Apr 2013, 08:50
PETALING JAYA: It would be 12 months before Petroliam Nasional Bhd (Petronas) can launch a new takeover offer for MISC Bhd
and not six months as previously reported. This is according to Section
34 of the Malaysian Code on Take-Overs and Mergers (2010).
Petronas'
failed takeover of MISC had resulted in its share price dipping below
the RM5.50 buyout price. After shedding 73 sen on Monday, MISC's shares
managed to stage a mild rebound, up six sen to RM4.63 in active trade
after the selldown on Monday seemed to have eased.
However, trading in the stock subsequently eased and its price dipped by three sen yesterday to close at RM4.54.
Investors were still considering if the stock was a good buy at this price, said one dealer.
Analysts have expressed mixed views on whether MISC shares were a good buy at these prices.
and not six months as previously reported. This is according to Section
34 of the Malaysian Code on Take-Overs and Mergers (2010).
Petronas'
failed takeover of MISC had resulted in its share price dipping below
the RM5.50 buyout price. After shedding 73 sen on Monday, MISC's shares
managed to stage a mild rebound, up six sen to RM4.63 in active trade
after the selldown on Monday seemed to have eased.
However, trading in the stock subsequently eased and its price dipped by three sen yesterday to close at RM4.54.
Investors were still considering if the stock was a good buy at this price, said one dealer.
Analysts have expressed mixed views on whether MISC shares were a good buy at these prices.
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