Kencana Petroleum Bhd, a Malaysian oil and gas services provider said it received an offer to merge with local rival SapuraCrest Petroleum Bhd.
Integral Key Sdn Bhd, a closely held company, offered to buy both companies with a view to a merger, Kencana said in an exchange filing.
Kencana was offered the equivalent of RM3 per share in stock and cash, it said. - Bloomberg
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