Amazing Parade Sdn Bhd is making a mandatory takeover offer to Eastern & Oriental Bhd (E&O) at 60 sen per share after it bought a 10.89% stake from Sime Darby Bhd.
The offer price is 1.5 sen higher compared with today's closing price of 58.5 sen. The property stock has climbed 62.5% from 36 sen in early November last year.
In a filing with Bursa Malaysia, E&O said it received notice of the MGO from Amazing Parade — the private vehicle of the Tee brothers, who control the construction firm Kerjaya Prospek Group Bhd.
Source: The Edge Markets
