has formally turned down an offer from Tan Sri Syed Mokhtar Albukhary to inject his plantation assets into the company for new shares. The tycoon, via his investment vehicle Perspective Lane (M) Sdn Bhd (PLSB), had made the offer to acquire a major stake in FGV via a letter dated Oct 12, 2020. ""The Board of Directors of FGV wishes to announce that this proposition will not be pursued any further due to the unconditional mandatory take-over from Maybank Investment Bank Bhd on behalf of Federal Land Development Authority (Felda) to acquire all the remaining ordinary shares in FGV which are not held by the Offeror and its persons acting in concert," the company said in a Bursa Malaysia filing today.