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Hong Leong Asia ups takeover offer price for cement maker Tasek

HONG Leong Asia has revised its takeover offer for cement producer Tasek upwards to RM5.80 per share.

In a filing to the Singapore Exchange on Friday, it said it was raising the offer from RM5.50 to RM5.80 per offer ordinary share as well as per offer preference share.

The revised offer will remain open for acceptances until 5pm on Aug 19, which is the final closing date. It added that the terms of the revised offer are final and that there wouldn't be any further revisions.

In May, Hong Leong - via subsidiaries HL Cement and Ridge Star - had launched the offer to acquire the shares of Tasek they do not own at RM5.50 per share. Prior to the offer, Hong Leong Asia had an 80.8 per cent stake in Tasek.

As at 5pm on Aug 2, the two joint offerors held total ordinary shares amounting to 85.96 per cent in Tasek.

sentifi.com

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