PETALING JAYA: The saga between Can-One Bhd and Kian Joo Can Factory Bhd (KJCF) is now coming to an end after the former obtained a 95.88% control of shares in the latter.In a filing with Bursa Malaysia yesterday, Can-One International, a unit of Can One holds 425.88 million shares or a 95.88% stake in Kian Joo.

This allows Can-One to force a compulsory acquisition of all shares in Kian Joo held by dissenting shareholders.

Can-One International intends to invoke the provisions of Section 222(1) of the Capital Market and Services Act, to compulsorily acquire the rest of Kian Joo shares for which acceptances have not been received.

Notwithstanding, the takeover offer will remain open for acceptances until April 30, being the final closing date.

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