Genting Bhd Proposes Takeover Offer for Genting Malaysia
Malaysia-based conglomerate Genting Bhd has announced a conditional voluntary takeover offer for its subsidiary Genting Malaysia Bhd.
The offer aims to acquire all remaining ordinary shares in Genting Malaysia, excluding treasury shares, at a cash price of MYR2.35 (US$0.55) per share.
This represents a 9.8 percent premium over the last traded price of MYR2.14 on Friday.
The parent company may move to delist Genting Malaysia from Bursa Malaysia, depending on the outcome of the operation.
The proposed takeover is valued at US$1.59 billion.
Author's summary: Genting Bhd offers US$1.59bln for Genting Malaysia.