Malaysia’s Petronas makes higher offer for MISC in $3 billion deal


From Reuters, dateline 2013-04-05:

Malaysia’s state owned oil and gas firm Petroliam Nasional Bhd (Petronas) PETR.UL raised the offer price to take over shipping firm MISC Bhd (MISC.KL) in a deal valued at 9.2 billion ringgit ($3 billion).

The revised offer of 5.50 ringgit per share comes after MISC’s other major shareholder, the Employees Provident Fund found the original bid of 5.30 per share to be unattractive.

Petronas did not disclose reasons behind the revised offer on Friday, which is 0.73 percent or four sen higher than MISC’s share close of 5.46 ringgit per share.

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This entry was posted on Sunday, April 28th, 2013 at 6:00 am and is filed under business opportunity, Malaysia, Malaysian election. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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