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The independent directors of Can-One Bhd have advised minority shareholders to reject the takeover offer of RM2.50 a share as it is sharply below the fair value of RM9.77 a share.
KUALA LUMPUR (May 5): Can-One Bhd’s share price fell about 6% after rising in Bursa Malaysia morning trade today following the can manufacturer’s announcement yesterday it received a notice of unconditional mandatory takeover offer from substantial shareholder Eller Axis Sdn Bhd to acquire the remaining shares in Can-One not owned by Eller Axis and ultimate offeror Yeoh Jin Hoe. At 9:38am today, Can-One’s share price fell 17 sen or 5.72% to RM2.80 after rising to its highest so far today at RM2.91. Can-One’s share trade resumed today following a suspension yesterday in conjunction wit...
to be among the stocks to watch on Wednesday. T7 Global has secured a RM50mil work order award from Petronas Carigali Sdn Bhd for the provision of plug and abandonment integrated services. Rohas Tecnic had secured a transmission line fabrication job with an estimated value of RM37mil. YTL Corp’s 98%-owned subsidiary YTL Cement (Hong Kong) Ltd has finalised the disposal of its 100% equity interest in Zhejiang Hangzhou Dama Cement Co Ltd (Dama Cement). Can-One has received a notice of unconditional mandatory takeover offer from major shareholder Eller Axis Sdn Bhd to acquire the remaining sh...
KUALA LUMPUR (May 4): Can-One Bhd has received a notice of unconditional mandatory takeover offer from major shareholder Eller Axis Sdn Bhd to acquire the remaining shares in Can-One not owned by Eller Axis and the ultimate offeror Yeoh Jin Hoe for RM2.50 per share. According to the notice of the offer from UOB Kay Hian sent on behalf of Eller Axis, which Can-One filed with Bursa Malaysia today, Eller Axis inked an unconditional share sale agreement with Genkho Candoz Sdn Bhd today to acquire 40.24 million shares or 20.94% in the metal-can manufacturer at RM2.50 per share or RM100.6 million i...