KUALA LUMPUR: ESSO MALAYSIA BHD [] shares slumped on Thursday, Aug 18 after investors were left disappointed with the RM3.50 per share offer made by San Miguel Corporation to buy a controlling 65% stake in the company from its parent ExxonMobil International Holdings Inc.
This was RM1.45 below the last traded price of RM4.95.
At 9.05am. Esso fell 88 sen to RM4.07 with 2.34 million shares traded.
The acquisition price of RM3.50 was about 1.06 times Esso Malaysia's book value of RM3.28.
San Miguel's acquisition of the 65% or 175.50 million shares would cost the Philippines' brewery giant RM614.25 million (US$206.02 million).
This was RM1.45 below the last traded price of RM4.95.
At 9.05am. Esso fell 88 sen to RM4.07 with 2.34 million shares traded.
The acquisition price of RM3.50 was about 1.06 times Esso Malaysia's book value of RM3.28.
San Miguel's acquisition of the 65% or 175.50 million shares would cost the Philippines' brewery giant RM614.25 million (US$206.02 million).
No comments:
Post a Comment