Bursa Malaysia Stock Watch
Measat soars on takeover offer
kltrader
Publish date: Thu, 29 Jul 2010, 10:15 AM
kltrader
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KUALA LUMPUR: Shares of Measat Global Bhd jumped in early trade to RM4.08 on Thursday, July 29 after MEASAT Global Network Systems Sdn Bhd (MGNS) made an offer to take over the remaining shares at RM4.20 each.
At 9.02am, it was up 28 sen tp Rm4.08 with 1.59 million shares done.
MGNS?s total acquisition cost is RM662 million, which will be satisfied fully in cash. Based on the offer price of RM4.20 per MEASAT share, MEASAT is valued at RM1.64 billion.
MGNS is the single largest shareholder in Measat Global with 59.56%. The controlling shareholder in MGNS is billionaire T. Ananda Krishnan.
At 9.02am, it was up 28 sen tp Rm4.08 with 1.59 million shares done.
MGNS?s total acquisition cost is RM662 million, which will be satisfied fully in cash. Based on the offer price of RM4.20 per MEASAT share, MEASAT is valued at RM1.64 billion.
MGNS is the single largest shareholder in Measat Global with 59.56%. The controlling shareholder in MGNS is billionaire T. Ananda Krishnan.
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