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

TheEdge Tue, Aug 06, 2019 10:14am - 6 months ago

KUALA LUMPUR: Singapore-listed Hong Leong Asia Ltd (HLA) has raised its offer for the remaining ordinary and preference shares in cement manufacturer Tasek Corp Bhd that it does not own to RM5.80 from RM5.50 per share.

HLA, part of Hong Leong Group that is controlled by tycoon Tan Sri Quek Leng Chan, wholly owns the two joint offerors of the planned unconditional voluntary takeover of Tasek Corp, HL Cement (M) Sdn Bhd and Ridge Star Ltd.

In a statement yesterday, CIMB Investment Bank Bhd, which is representing the joint offerors, said accordingly, the revised offer will remain open for acceptance until 5pm on Aug 19, 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. 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,” CIMB said.

Related Stocks

CIMB 4.950
TASEK 5.780


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