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M3nergy: Takeover offer get 90% acceptance

M3nergy Price RM1.82 Offer at RM1.85

 

M3nergy Bhd said the takeover offer by Adamus Avenue Sdn Bhd (AASB) to minority shareholder at RM1.85 a share has crossed the 90% acceptance threshold as of yesterday. In a filing to the exchange, the offer now becomes unconditional and AASB intends to compulsorily acquire the remaining outstanding shares after the offer period closes on Aug 17, 2010.

(Malaysian Reserve)