Property company LBS Bina Group Bhd has made an unconditional mandatory takeover offer for ML Global Bhd after it raised its stake to 50.9%.
LBS Bina said on Monday the offer for ML Global, which is involved in construction and production of roof tiles, was 56 sen per share and six sen per warrants for the shares which it does not own.
It had bought 17 million shares of ML Global its 18.97% stake from the latter's managing director Datuk Beh Hang Kong for RM9.52mil or 56 sen per share via a direct business transaction. This saw LBS Bina's stake increased to 50.9%.
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LBS Bina said on Monday the offer for ML Global, which is involved in construction and production of roof tiles, was 56 sen per share and six sen per warrants for the shares which it does not own.
It had bought 17 million shares of ML Global its 18.97% stake from the latter's managing director Datuk Beh Hang Kong for RM9.52mil or 56 sen per share via a direct business transaction. This saw LBS Bina's stake increased to 50.9%.
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