Hong Leong Asia ups Tasek takeover offer to RM5.80 per share

TheEdge Mon, Aug 05, 2019 12:30pm - 4 years View Original


KUALA LUMPUR (Aug 5): CIMB Investment Bank Bhd said today joint offerors for the planned unconditional voluntary takeover of Tasek Corp Bhd have raised their offer for the remaining ordinary and preference shares in the cement manufacturer to RM5.80 from RM5.50 per share.

In a statement today, CIMB, which is representing joint offerors HL Cement (M) Sdn Bhd and Ridge Star Ltd, said that accordingly, the revised offer will remain open for acceptance until 5pm Aug 19, 2019, which is the final closing date. The joint offerors are wholly-owned subsidiaries of Singapore-listed Hong Leong Asia Ltd, according to CIMB.

"The terms of the revised offer are final and there will not be any further revision to such terms. Save for the revised offer, all other details and the terms and conditions as set out in the offer document remain unchanged. The notice of revised offer will be despatched to the holders of Tasek accordingly.

"Holders of Tasek who wish to accept the revised offer are also advised to refer to the offer document for the details, terms and conditions of the offer and the procedures for acceptance of the offer. Holders of Tasek are also advised to carefully consider the independent advice circular dated June 28, 2019 as well as any revised comments, opinion and recommendations that may be issued by the independent adviser arising from the revised offer before making any decision," CIMB said.

See also: Hong Leong to take cement-maker Tasek private

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