Latexx Partners Bhd, a Malaysian rubber-glove maker, rose in Kuala Lumpur trading after receiving an offer to merge with rival YTY Industry Holdings Sdn Bhd in a transaction valued at RM1.37 billion.

The stock advanced 1.6 per cent to RM2.55 at 9:11 a.m. local time, extending yesterday's 4.6 per cent gain.

Latexx will buy four units of YTY by paying RM409.5 million in cash and the balance RM955.5 million in new stock at RM2.50 a share, the company said in a statement in Kuala Lumpur late yesterday.

Latexx will deliberate on the offer, which will remain open for 21 days, it said. -- Bloomberg