Bursa Malaysia Stock Watch
Measat rises to 6-year high on buyout bid
kltrader
Publish date: Thu, 29 Jul 2010, 10:47 AM
kltrader
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Measat Global Bhd, Malaysia's sole satellite operator, rose to its highest level in more than six years after billionaire T. Ananda Krishnan bid RM662 million (US$207 million) for full control of the company.
The stock climbed 7.1 per cent to RM4.07 at 9:03 a.m. in Kuala Lumpur, set for its highest close since Dec. 10, 2003. Krishnan, Malaysia's second-richest man, offered RM4.20 a share for the 40.4 per cent of Measat he doesn't already own, according to a statement yesterday. -- Bloomberg
The stock climbed 7.1 per cent to RM4.07 at 9:03 a.m. in Kuala Lumpur, set for its highest close since Dec. 10, 2003. Krishnan, Malaysia's second-richest man, offered RM4.20 a share for the 40.4 per cent of Measat he doesn't already own, according to a statement yesterday. -- Bloomberg
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