Genting Bhd Proposes Takeover Offer for Genting Malaysia
Malaysia-based conglomerate Genting Bhd has announced a conditional voluntary takeover offer for its subsidiary Genting Malaysia Bhd.
The offer aims to acquire all remaining ordinary shares in Genting Malaysia, excluding treasury shares, for a cash price of MYR2.35 (US$0.55) per share.
The offer price represents a 9.8 percent premium over the last traded price of MYR2.14 on Friday.
Genting may delist Genting Malaysia from Bursa Malaysia if the takeover is successful.
The total value of the takeover offer is approximately US$1.59 billion.
Author's summary: Genting Bhd proposes US$1.59 billion takeover for Genting Malaysia.
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