Saturday, July 13

Sime Darby’s takeover of UMW now unconditional

Sime Darby Bhd’s takeover bid for the remaining shares it does not own in UMW Holdings Bhd at RM5 per share is now unconditional, as Sime Darby already holds more than 50% of voting shares.

On Dec 13, Sime Darby completed an acquisition of a 61.2% stake in UMW, making Sime Darby the new major shareholder of UMW.

CIMB Investment Bank Bhd, on behalf of Sime Darby, informed Bursa Malaysia today that the offer would remain open for acceptance until 5pm on Jan 17, 2024, unless extended or revised.

Sime Darby has said it does not intend to maintain the listing status of UMW on the Main Market of Bursa Securities.

As of 11.47am, Sime Darby added one sen to RM2.37, with 2.65 million shares traded while UMW declined one sen to RM4.90 with 1.14 million units changing hands. – Bernama

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