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KNM: Offer price may be reduced


KNM Group Bhd (KNMG MK, Hold, TP: RM0.90)

KNM Group Bhd has not extended BlueFire Capital Group Ltd’s (Bidco) exclusivity period for due diligence but still aims to conclude talks in four weeks, raising speculation that a revised lower offer price could be in the offing for the takeover. KNM said although it had not extended the period, which expired yesterday Mar 22, it had agreed to wrap up negotiations with the parties involved by Apr 16. “An announcement will be made on the outcome of such discussions when they are concluded,” KNM said in a filing to Bursa Malaysia. (Financial Daily)