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NewsSime: No need for mandatory offer for E&O
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Sime: No need for mandatory offer for E&O
by hlk Tue 11 Oct 2011, 14:23
Sime Darby Bhd is not obliged to make a mandatory general offer for Eastern and Oriental Bhd, the company said, following a review by the Securities Commission.
Sime, which bought a 30 percent stake in Eastern and Oriental, wasn’t acting in concert with Terry Tham Ka Hon, and as such a general offer obligation would not arise, according to the securities regulator’s findings, Sime said in a statement today.
Earlier, Sime Darby and Eastern and Oriental suspended their shares.
Sime completed an acquisition of a 30 percent stake in Eastern and Oriental for RM766 million, or at RM2.30 a share on Sept. 11.
Sime said last month it was open to the possibility of making a general offer. -- Bloomberg
Sime, which bought a 30 percent stake in Eastern and Oriental, wasn’t acting in concert with Terry Tham Ka Hon, and as such a general offer obligation would not arise, according to the securities regulator’s findings, Sime said in a statement today.
Earlier, Sime Darby and Eastern and Oriental suspended their shares.
Sime completed an acquisition of a 30 percent stake in Eastern and Oriental for RM766 million, or at RM2.30 a share on Sept. 11.
Sime said last month it was open to the possibility of making a general offer. -- Bloomberg
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