Dateline 2013-04-08:
Malaysian shipping group MISC Bhd (MISC.KL) said a revised $3 billion offer from shareholder Petronas to buy out all remaining stock was not fair, because it was lower than the combined valuation of its different divisions.
State oil company Petroliam Nasional Bhd, which already owns nearly 63 percent of MISC, on Friday raised its offer to 5.50 ringgit per share from 5.20 ringgit after the Employees Provident Fund, MISC’s other major shareholder with nearly 10 percent, said the original bid was unattractive.
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Wata - Malaysian Oil and Gas Engineer 