Tuesday, October 18, 2011

Leader Universal shares advance on takeover offer

KUALA LUMPUR: LEADER UNIVERSAL HOLDINGS BHD []'s shares rose in early trade on Tuesday, Oct 18 after the company's top officials, via HNG Capital Sdn Bhd, made a takeover offer for the company for RM480.10 million or RM1.10 per share.

The offer price was 26 sen above the last traded price of 84 sen.

At 9.25am. Leader gained 17 sen to RM1.01 with 8.69 million shares traded.

Leader said on Monday, Oct 17 the purchase consideration would be RM410.94 million in cash and RM69.16 million as an amount remaining due and owing by HNGC as a debt due to Leader.

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