KUALA LUMPUR:'' The former shareholders of MTD CAPITAL BHD [] who had accepted the takeover offer from Nikvest Sdn Bhd and three other joint offerors have been given the option to withdraw their acceptances following the latest corporate development.
MTD Capital Bhd's two top officials had on Friday, Jan 28 made a RM3.25 billion cash offer to acquire the entire business and undertaking of MTD Prime Sdn Bhd and Metramac, Corp Sdn Bhd including all their assets and liabilities.
The offer was made by its group executive chairman Nik Hussain Abdul Rahman and the president/chief executive officer Azmil Khalili Khalid to acquire business of MTD Prime and Metramac, which are units of MTD Capital.
Following the latest development, Nikvest, Alloy Consolidated Sdn Bhd, Alloy Concrete Engineering Sdn Bhd and Alloy Capital Sdn Bhd said on Monday, Jan 31, those investors who had accepted their joint offer before or on Jan 28, could withdraw the acceptances.
Nikvest and the parties acting on concert had made an unconditional take-over offer to acquire MTD Capital shares not already owned for a cash offer of RM9.50.
'The subsequent proposal is a material development which occurred after the posting of the offer document which may affect the decision of the MTD shareholders on whether to accept the offer,' they said in the statement issued by Maybank Investment Bank Bhd.
MTD Capital Bhd's two top officials had on Friday, Jan 28 made a RM3.25 billion cash offer to acquire the entire business and undertaking of MTD Prime Sdn Bhd and Metramac, Corp Sdn Bhd including all their assets and liabilities.
The offer was made by its group executive chairman Nik Hussain Abdul Rahman and the president/chief executive officer Azmil Khalili Khalid to acquire business of MTD Prime and Metramac, which are units of MTD Capital.
Following the latest development, Nikvest, Alloy Consolidated Sdn Bhd, Alloy Concrete Engineering Sdn Bhd and Alloy Capital Sdn Bhd said on Monday, Jan 31, those investors who had accepted their joint offer before or on Jan 28, could withdraw the acceptances.
Nikvest and the parties acting on concert had made an unconditional take-over offer to acquire MTD Capital shares not already owned for a cash offer of RM9.50.
'The subsequent proposal is a material development which occurred after the posting of the offer document which may affect the decision of the MTD shareholders on whether to accept the offer,' they said in the statement issued by Maybank Investment Bank Bhd.
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