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Batu Kawan Unit Launches Unconditional Offer to Privatize MKH

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Batu Kawan (KLSE:BKAWAN) unit Whitmore will acquire the remaining shares in MKH (KLSE:MKH), that it does not already own, through an unconditional mandatory takeover offer.

The shares will be purchased at 2 ringgit per share, after the offer became unconditional, according to Thursday Malaysian Exchange filings.

The mandatory offer was triggered after Whitmore acquired a 29.6% stake in MKH and later raised its combined holding with Batu Kawan to about 32.8% through market purchases.

The company will send a formal offer document to shareholders within seven days.

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