Felda has issued an offer document for the unconditional mandatory takeover of FGV shares it does not own.
KUALA LUMPUR: Felda has bought 41 million shares of FGV Holdings Bhd from the open market for RM53.3 million.On Jan 14, Felda bought 22 million FGV shares from the open market for RM28.38 million. Felda issued an offer document on Jan 12 in relation to its unconditional mandatory takeover offer for all the remaining shares in FGV which it does not own, except treasury shares.
Its offer of RM1.30 per share will be open for acceptances until 5pm on Feb 2, unless extended or revised with an announcement to be made by Maybank Investment Bank Bhd, the principal adviser to Felda for the takeover offer, two days before the closing date. On Dec 8 last year, Felda, which already owned a 21.24% stake in FGV, increased its stake in the company to 35.12% and proposed to take FGV private at RM1.30 a share.FGV shares were flat at RM1.30 at midday today with 5.97 million shares transacted.
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