KUALA LUMPUR: Shares of QSR BRANDS BHD [] slumped on Thursday, Dec 9, amid a resurging market after the recent rejection of two takeover offers at RM6.70 per share.
At 3.07pm, the shares fell 12 sen to RM5.63 while its warrants lost nine sen to RM2.53.
However, the broader market was firmer with the benchmark FBM KLCI up 6.59 points to 1,516.65. Turnover was 984.47 million shares done valued at RM1.48 billion. Advancers led gainers 386 to 302 while 283 stocks were unchanged.
On Nov 29, QSR Brands rejected a revised offer of RM6.70 proposed by KUB MALAYSIA BHD [] in collaboration with Idaman Saga Sdn Bhd and CVC Capital Partners Asia III Ltd.
QSR had then said it had decided to reject the offer, though it was higher than Idaman's original offer of RM5.61.
KUB had collaborated with Idaman Saga ' the vehicle of Tan Sri Halim Saad ' and CVC Capital Partners Asia III Ltd to extend a revised proposal to acquire all the business and undertakings of QSR and its subsidiaries at an indicative offer price of RM6.70 per share.
KUB holds the Yum! franchise for A&W in Malaysia and Thailand. CVC Asia III is affiliated to CVC Capital Partners, a leading global private equity firm with over US$43 billion in funds.
US-based private equity fund Carlyle had last week upped Idaman's offer to RM6.70 to take QSR private.
At 3.07pm, the shares fell 12 sen to RM5.63 while its warrants lost nine sen to RM2.53.
However, the broader market was firmer with the benchmark FBM KLCI up 6.59 points to 1,516.65. Turnover was 984.47 million shares done valued at RM1.48 billion. Advancers led gainers 386 to 302 while 283 stocks were unchanged.
On Nov 29, QSR Brands rejected a revised offer of RM6.70 proposed by KUB MALAYSIA BHD [] in collaboration with Idaman Saga Sdn Bhd and CVC Capital Partners Asia III Ltd.
QSR had then said it had decided to reject the offer, though it was higher than Idaman's original offer of RM5.61.
KUB had collaborated with Idaman Saga ' the vehicle of Tan Sri Halim Saad ' and CVC Capital Partners Asia III Ltd to extend a revised proposal to acquire all the business and undertakings of QSR and its subsidiaries at an indicative offer price of RM6.70 per share.
KUB holds the Yum! franchise for A&W in Malaysia and Thailand. CVC Asia III is affiliated to CVC Capital Partners, a leading global private equity firm with over US$43 billion in funds.
US-based private equity fund Carlyle had last week upped Idaman's offer to RM6.70 to take QSR private.
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