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REFILE-UPDATE 2-Malaysia's KLK offers $372 mln for majority stake in IJM Plantations


Mei Mei Chu
(Corrects and clarifies mention of “loss-making” in paragraph 11)
KUALA LUMPUR, June 9 (Reuters) - Malaysian palm oil giant Kuala Lumpur Kepong (KLK) Bhd has proposed to acquire IJM Corporation Bhd’s entire stake in IJM Plantations Bhd for 1.53 billion ringgit ($371.72 million) in cash, the companies said on Wednesday.
IJM Corp said it has received a letter from KLK, one of the largest palm oil planters in the country, offering to acquire its 56.2% equity holding at 3.10 ringgit per share.
The construction group said it has agreed in principle to finalise terms of the proposed acquisition with KLK.
“After having deliberated on the merits of the offer, the board is in principle agreeable to finalise the terms and conditions with KLK . for the execution of the sale and purchase agreement,” it said. ....

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GLOBAL MARKETS-Stocks wobble on inflation concerns ahead of U.S. payrolls


Oil prices dip after recent gains
Currencies moves limited to tight ranges
LONDON, June 3 (Reuters) - World stocks stepped back from record highs on Thursday as investors weighed inflation concerns ahead of key U.S. economic data, while oil prices rose for a third straight session.
Market sentiment was cagey as investors backed away from big bets before the release on Friday of U.S. jobs data, which should offer further clarity on whether the faster-than-expected pace of economic recovery can be sustained and what that might mean for monetary policy.
In Europe, the broad Euro STOXX index was 0.6% down, drifting away from record highs scaled on Tuesday, with Britain’s FTSE 100 slipping 1%, while Germany’s DAX and the French CAC 40 were both down 0.6%. ....

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