Article: Malaysia: MMC sticks to its plan to buy AIRB shares at 90 sen each.

Byline: kavita03

MMC Corp Bhd will not revise its takeover offer for water treatment company Aliran Ihsan Resources Bhd (AIRB) at 90 sen per share despite recommendation by an independent adviser to reject the offer, said MMC chief executive Hasni Harun.He did not say why the offer would not be revised.

Hasni also announced that MMC, as part of a consortium with two other companies, had been named as a preferred bidder for a US$5bil independent water and power plant project in Saudi Arabia. However, he declined to elaborate.Last month, AIRB s independent adviser, Affin Investment Bank Bhd, recommended shareholders to reject the takevoer offer.It said ...

Related newspaper, magazine, and journal articles:

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!