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.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: