Tuesday, November 30, 2010

QSR, Kulim, KFCH fall after takeover offers rejected

KUALA LUMPUR: Shares of QSR BRANDS BHD [], Kulim (Malaysia) Bhd'' and KFC Holdings Bhd fell in early trade on Tuesday, Nov 30 after the rejection of the takeover offers for QSR.

At 9.02am, QSR fell 56 sen to RM5.60, its warrants QSR-WB lost 35 sen to RM2.79 while Kulim fell 32 sen to RM11.76. KFCH fell 14 sen to RM3.80 and KFCH-WB shed 10 sen to RM1.80.

The FBM KLCI fell 1.15 points to 1,494.80. Turnover was 22.64 million shares valued at RM21 million. There were 51 gainers, 53 losers and 67 stocks unchanged.

Kulim and QSR rejected the revised takeover offer for all the business and undertakings of QSR at RM6.70 per share.

They had rejected the offers by KUB MALAYSIA BHD [] in collaboration with Idaman Saga Sdn Bhd and CVC Capital Partners Asia III Ltd. Also rejected was US-based private equity fund Carlyle's offer of RM6.70 to take QSR private.


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