PETALING JAYA: Sunway Bhd
believes its offer to acquire IJM Corp Bhd is appropriately valued amid some scepticism from the general public and an early rejection from the latter’s major 13.5% shareholder, Permodalan Nasional Bhd (PNB).
The group retained its stance that it will walk away from this proposed acquisition if it did not obtain a majority of IJM’s shareholders approval (50% plus one share) to proceed with this corporate exercise.
Sunway’s shareholders approved this proposed acquisition at its EGM yesterday, whereby its founder and chairman Tan Sri Sir Dr Jeffrey Cheah said it obtained a 99.97% approval for the deal.
“I spoke with some shareholders (of Sunway) and they are convinced it is a good deal.
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