WMG Advised to Reject Takeover Offer

MT Newswires Live

2024/11/12

WMG's (KLSE:WMG) independent adviser, MainStreet Advisers, advised shareholders to reject the mandatory takeover offer by joint offerors, deeming it "not fair" and unreasonable, according to a Monday prospectus on Bursa Malaysia.

The property developer received an offer from Exsim Borneo to sell its remaining stake not already owned by Exsim Borneo and joint offerors at 0.165 ringgit per share.

The adviser said the offer price undervalues the company's potential.

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