KLK's bid for IJM Plantations positive for shareholders of all three firms involved

Singapore

THERE should be smiles all round for shareholders of Kuala Lumpur Kepong (KLK), IJM Corporation and IJM Plantations (IJMP), analysts said.

Plantations group KLK has announced intentions to buy IJM's entire 56.2 per cent stake in IJMP for RM1.53 billion (S$492.05 million), or RM3.10 per share, in cash. If the proposal is accepted, KLK will also have to make a general offer for all the remaining shares of IJMP.