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General Corp (GCB) Minority Shareholders Beware: Takeover Bid Start

GCB: Two major shareholders launch takeover bid
Two major shareholders of General Corporation Bhd (GCB) have launched a takeover of the company for about RM505.5m or RM1.70 per share. GCB said it had received a letter from Consistent Record Sdn Bhd (CRSB), a company owned by Tan Sri Low Keng Huat and Datuk Marco Low Peng Kiat, to acquire its entire business and undertakings, including all assets and liabilities. CRSB had stated in the letter than certain family members of the shareholders and the shareholders’ intend to transfer their 32% stake in GCB to the company. (Malaysian Reserve)

 

Read: Power to minority share holders: why so baffled?