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Article: Malaysia: MMC sticks to its plan to buy AIRB shares at 90 sen each.
- Article from:
- TendersInfo
- Article date:
- October 16, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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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 ...