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Monday, December 20, 2010

MTD gets takeover offer from major shareholders at RM9.50 per share (Edge)

MTD CAPITAL BHD [] has received a buyout offer from its major shareholders Nikvest Sdn Bhd, Alloy Consolidated Sdn Bhd, Alloy Concrete Engineering Sdn Bhd and Alloy Capital Sdn Bhd (joint offerors) to acquire the remaining shares they do not already hold (excluding 27.49 million treasury shares) at RM9.50 apiece.

The joint offerors hold 131.48 million shares of RM1 each in MTD, representing 53.13%.

They are making an offer of RM9.50 per share for the remaining 116.02 million shares or 46.87% they dot not already own in MTD.

The joint offers have also made a downstream, take-over offer for the existing and paid-up shares of RM1 each in MTD ACPI ENGINEERING BHD [] not already held by MTD for a cash offer price of 53 sen per share.

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