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Ranhill not seeking alternative offeror to make takeover bid
by hlk Wed 10 Aug 2011, 00:22
KUALA LUMPUR: RANHILL BHD [], which received a takeover offer from its major shareholders at 90 sen per share, led by its president and chief executive Tan Sri Hamdan Mohamad, is not considering seeking an alternative person to make a take-over offer for the offer shares.
The company said in a filing to Bursa Securities on Tuesday, Aug 9 that its board of directors had deliberated on the notice of takeover and decided not to seek an alternative person.
The company had earlier in the morning said it had received the notice for the takeover offer at 90 sen per share, or a premium of 15 sen or 20% above the last traded price of 75 sen on Monday.
The parties acting in concert with him are Cheval Infrastructure Fund L.P. (acting via its general partner, TAEL Management Co. (Cayman) Ltd), Ranhill Corporation Sdn Bhd, Lambang Optima Sdn Bhd and Pacific Energy Overseas Ltd. They jointly own a 51.86% stake.
Ranhill said on Tuesday, Aug 9 the parties made the offer to acquire all the remaining shares they do not already own via Maybank Investment Bank Bhd.
Ranhill was the most actively traded counter with 55.63 million shares done. The stock added 13.5 sen to 88 sen.
The company said in a filing to Bursa Securities on Tuesday, Aug 9 that its board of directors had deliberated on the notice of takeover and decided not to seek an alternative person.
The company had earlier in the morning said it had received the notice for the takeover offer at 90 sen per share, or a premium of 15 sen or 20% above the last traded price of 75 sen on Monday.
The parties acting in concert with him are Cheval Infrastructure Fund L.P. (acting via its general partner, TAEL Management Co. (Cayman) Ltd), Ranhill Corporation Sdn Bhd, Lambang Optima Sdn Bhd and Pacific Energy Overseas Ltd. They jointly own a 51.86% stake.
Ranhill said on Tuesday, Aug 9 the parties made the offer to acquire all the remaining shares they do not already own via Maybank Investment Bank Bhd.
Ranhill was the most actively traded counter with 55.63 million shares done. The stock added 13.5 sen to 88 sen.
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