MTD Capital Bhd has accepted the unconditional takeover offer by four companies to acquire all the remaining shares in the company.

In a statement today, MTD said Nikvest Sdn Bhd, Alloy Consolidated Sdn Bhd, Alloy Concrete Engineering Sdn Bhd and Alloy Capital Sdn Bhd had offered to acquire the remaining shares that were not already owned for RM11 each in cash.

'The offerors would procure MTD to take the necessary procedures to withdraw its listing status from the official list of Bursa Malaysia.

'In addition, the offerors would within two months beginning today, proceed to invoke Section 222 of the Capital Markets and Services Act 2007 to compulsorily acquire any outstanding offer shares for which valid acceptances have not been received,' it said. -- Bernama