Maypak, Alcom minorities urged to reject general offers

Kuala Lumpur

MINORITY shareholders of two listed companies have been urged to turn down general offers because of overly steep discounts of 60-70 per cent to the companies' RNAVs (revalued net asset values).

Mercury Securities, the independent adviser for the Malaysia Packaging Industry (Maypak) and Aluminium Company of Malaysia (Alcom) offer, has urged minorities of both companies to reject the offers as it deemed them to be not fair, and in Alcom's case, also not reasonable.