Thursday, November 10, 2011

OSK Investment Bank resigns as Hirotako independent adviser

KUALA LUMPUR (Nov 10):'' OSK Investment Bank Bhd has resigned as independent adviser to HIROTAKO HOLDINGS BHD [] over the conditional take-over offer by MBM RESOURCES BHD [].

Hirotako said on Thursday that OSK had resigned in relation to the offer on Wednesday as it had acted as the adviser for a recent corporate exercise.

MBM Resources had offered to 97 per share and 5.0 sen per warrant to acquire the Hirotako stake in a'' RM412.5 million deal as it sought to expand its automotive manufacturing division.

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