KUALA LUMPUR: The shares of LATEXX PARTNERS BHD [] fell on resuming trade at 10am on Monday, May 16 following the RM852.03 million buyout plan by Navis Asia VI Management Company Ltd (Navis) being aborted after the exclusivity period granted to Navis expired on May 15.
At 10.10am, Latexx fell 27 sen to RM2.39 with 1.52 million shares traded.
In a filing to the stock exchange on May 16, Latexx said the parties had not been able to agree on the definitive terms of the takeover proposal and accordingly, the proposal had been aborted.
Navis had offered RM852.03 million to acquire all the assets and liabilities of Latexx or RM3.10 per share.
Latexx had initially accepted the proposal and granted Navis an exclusivity period up to April 1, 2011 for the latter 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.
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At 10.10am, Latexx fell 27 sen to RM2.39 with 1.52 million shares traded.
In a filing to the stock exchange on May 16, Latexx said the parties had not been able to agree on the definitive terms of the takeover proposal and accordingly, the proposal had been aborted.
Navis had offered RM852.03 million to acquire all the assets and liabilities of Latexx or RM3.10 per share.
Latexx had initially accepted the proposal and granted Navis an exclusivity period up to April 1, 2011 for the latter 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.
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