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Tasek Corp up 4.3% on revised takeover offer price

TheEdge Mon, Aug 05, 2019 12:06pm - 5 months ago

KUALA LUMPUR (Aug 5): Shares in Tasek Corp Bhd rose 4.32% this morning after HL Cement (Malaysia) Sdn Bhd and Ridge Star Ltd (joint offerors) raised their takeover offer price for shares in Tasek Corp to RM5.80 from RM5.50.

At 11.36am, Tasek rose 24 sen to RM5.79 for a market capitalisation of RM715.77 million.

Last Friday, Tasek told the stock exchanged that the joint offerors had revised the offer price from RM5.50 to RM5.80 per ordinary share and RM5.50 to RM5.80 per offer preference share.

"Revised offer shall remain open for acceptances until 5.00pm (Malaysian time) on Monday, Aug 19, 2019, which is the final closing date.

"The terms of the revised offer are final and there will not be any further revision to such terms," it said.

As at July 18, the joint offerors hold a total of 97.89 million shares or 80.8% of Tasek's outstanding shares and a total of 211,050 preference shares or 63% of the total shares.

The joint offerors had in May launched the offer to acquire the shares of Tasek they do not own at RM5.50 per share.

See also:
HL Cement, Ridge Star extend closing date for Tasek Corp takeover offer
Hong Leong Asia to take cement maker Tasek private

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