4 stories mentioning KLSE:BKAWANUpdated just now
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Batu Kawan (KLSE:BKAWAN) unit Whitmore launched an unconditional mandatory takeover offer to acquire the remaining voting shares in MKH (KLSE:MKH).The offeror proposed to acquire the remaining shares at 2 ringgit per share in cash, according to a Thursday Malaysian bourse filing.The offer was triggered when Whitmore bought over 33% of MKH shares, requiring it to buy out all remaining shareholders under Malaysian law.
Malaysian shares erased gains of the previous six sessions to end in the red on Thursday. The sentiment was in line with a downbeat regional performance amid waning hopes of US-Iran peace negotiations.The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, shed 11.02 points to end 0.6% lower at 1,737.15.In corporate news, shares of Theta Edge (KLSE:THETA) jumped 29% on today's close after its unincorporated joint venture company, MRCB-Theta JV, secured an order worth 3.03 billion ringgit from MRT.Whereas, shares of Heineken Malaysia's (KLSE:HEIM) slumped over 10% on close after it reported profit attributable to owners of 50.5 million ringgit in the second quarter, down 39% from 83 million ringgit a year earlier.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. Batu Kawan's shares ended flat today.
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.
TMK Chemical (KLSE:TMK) has proposed to acquire a 100% stake in Chemical Company of Malaysia (CCM) from Batu Kawan (KLSE:BKAWAN) for 920 million Malaysian ringgit in a cash and share deal, according to a Friday filing with the Bursa Malaysia.TMK submitted a non-binding letter of intent to acquire 100% of CCM, excluding associate company Orica-CCM Energy Systems and two parcels of land linked to that business.The cash portion will be funded through proceeds from TMK's public listing in December 2024, bank borrowings, and internally generated funds, while the shares will be issued at 1.9098 ringgit each.On completion of the transaction, Batu Kawan is expected to hold at least a 20% stake in the enlarged TMK group, making it CCM's second-largest shareholder.
