KUALA LUMPUR: Shares in TA GLOBAL BHD
and TA Enterprise Bhd rose in early trade Wednesday after the Securities Commission (SC) rejected the latter's takeover withdrawal.
TA Global rose 9.52%, or two sen to 23 sen with over 10 million shares traded. TA Enterprise added 4.95%, or 2.5 sen to 53 sen.
TA Enterprise’s application to withdraw its conditional voluntary take-over offer of TA Global has been rejected by the SC after having considered the justifications provided on a holistic basis.
In arriving at its decision to reject TA Enterprise's applications, the SC said it had considered the justification provided by the applicant, the conduct of the applicant from the time of the announcement of the offer up to the date of application and precedents from other jurisdictions.
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