KUALA LUMPUR: The independent directors of MTD CAPITAL BHD [] are accepting the offer from Datuk Dr Nik Hussain Abdul Rahman and Datuk Azmil Khalili Khalid, the group executive chairman and president & CEO of MTD respectively, to acquire MTD Prime and Metramac for RM3.53 billion cash.
In a filing to Bursa Securities on Tuesday, March 15, MTD said the independent directors had resolved to accept the proposal as it was deemed to be in the best interest of the company.
It said they would commence discussions and negotiations on the terms and conditions of the definitive agreements.
The independent directors do not intend to seek other alternative bids for the acquisition of the business, it said.
In a filing to Bursa Securities on Tuesday, March 15, MTD said the independent directors had resolved to accept the proposal as it was deemed to be in the best interest of the company.
It said they would commence discussions and negotiations on the terms and conditions of the definitive agreements.
The independent directors do not intend to seek other alternative bids for the acquisition of the business, it said.
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