KUALA LUMPUR: Fund management company Navis Asia VI Management Company Ltd has offered RM852.03 million to acquire all the assets and liabilities of LATEXX PARTNERS BHD [] or RM3.10 per share, which was 30 sen above the last traded price of RM2.80.
'After deliberating on the proposal, the board has on Jan 29 resolved to accept the proposal and granted Navis an exclusivity period up to April 1, 2011,' Latexx said on Monday, Jan 31.
The exclusivity period was for Navis to carry out the due diligence, discussions in relation to the structure of the transaction and negotiations in respect of the detailed terms and conditions of the definitive agreement.
Latexx said it would be appointing the relevant legal and financial advisers to assist Latexx and its board in negotiating the definitive terms of any transaction.
Navis is a Cayman Island incorporated fund management company which is a unit of Navis Capital Partners Ltd.'' Since it was founded in 1998, it has''made about 40 acquisitions and manages over US$3 billion in capital.
'After deliberating on the proposal, the board has on Jan 29 resolved to accept the proposal and granted Navis an exclusivity period up to April 1, 2011,' Latexx said on Monday, Jan 31.
The exclusivity period was for Navis to carry out the due diligence, discussions in relation to the structure of the transaction and negotiations in respect of the detailed terms and conditions of the definitive agreement.
Latexx said it would be appointing the relevant legal and financial advisers to assist Latexx and its board in negotiating the definitive terms of any transaction.
Navis is a Cayman Island incorporated fund management company which is a unit of Navis Capital Partners Ltd.'' Since it was founded in 1998, it has''made about 40 acquisitions and manages over US$3 billion in capital.
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