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Hot Stock MBSB falls 2.84% after merger talks end
by Cals Thu 04 Feb 2016, 07:55
- Hot Stock
[size=28]MBSB falls 2.84% after merger talks end
By Surin Murugiah / theedgemarkets.com | February 3, 2016 : 9:31 AM MYTKUALA LUMPUR (Feb 3): Shares of Malaysia Building Society Bhd (MBSB) fell in early trade today after the company, DRB-HICOM Bhd and Khazanah Nasional Bhd decided to end negotiations for the proposed merger of MBSB and Bank Muamalat Malaysia Bhd.
At 9.11am, MBSB fell 2.84% or 4 sen to RM1.37 with 148,400 shares done.
MBSB said in an announcement to the bourse that the parties have not been able to reach an agreement on the terms and conditions of the proposed merger, after a series of discussions and negotiations.
"Accordingly, the parties have mutually agreed to end all discussions and not proceed with the proposed merger," it said.
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