Affin Hwang: KUB take-over offer 'not fair' and 'not reasonable'
KUALA LUMPUR (July 10): Affin Hwang Investment Bank Bhd said the take-over offer for diversified entity KUB Malaysia Bhd at 35 sen a share was "not fair" and "not reasonable" as it undervalued KUB shares, which were deemed liquid.
Affin Hwang, the independent adviser for the exercise, advised KUB shareholders to reject the offer from Anchorscape Sdn Bhd.
“Accordingly, we advise and recommend the holders of the offer shares to reject the offer," Affin Hwang said in a KUB shareholder circular today. KUB's diversified businesses include oil palm plantations and restaurants.
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