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Damansara Realty (DBHD) Get Conditional Takeover Exercise : Offer at RM0.80

JCorp Bhd (JCorp) and Johor Logistics Sdn Bhd, together with parties acting in concert, are undertaking a conditional takeover exercise of Damansara Realty Bhd and are offering 80 sen per share for stakes that the parties do not currently own. As of April 26, JCorp held a 30.8% stake while joint offeror Johor Logistics held no shares in the firm. The parties acting in concert hold a negligible amount respectively. The takeover was triggered following JCorp’s acquisition of 1.63m Damansara Realty shares in open market trade last Friday, which took the joint offerors’ and parties acting in concert’s stake in the latter to 33.6%. (Malaysian Reserve)