Tuesday, December 6, 2011

Proton, DRB-Hicom active, up amid speculation of corporate exercise

KUALA LUMPUR (Dec 6): PROTON HOLDINGS BHD [] and DRB-HICOM BHD [] shares were actively traded on Tuesday amid speculation that that a corporate exercise is in the offing, with DRB-Hicom emerging as the likely suitor.

At 9.10am, Proton was up 27 sen to RM4.77 with 3 million shares done while DRB-Hicom added 10 sen to RM2.30 with 4 million shares traded.

The Edge FinancialDaily reported today that businessman Tan Sri Syed Mokhtar Albukhary was understood to be in negotiations with Maybank Investment Bank (Maybank IB) to craft a deal in his bid to take control of national automaker Proton.

For more, get a copy of today's Edge FinancialDaily.

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