<div class=newsTextDataWrapInner><p>KUALA LUMPUR (April 15): The RM1.47 billion takeover offer for Kian Joo Can Factory Bhd by Aspire Insight Sdn Bhd has been called off on mutual agreement.</p></div>

<div class=newsTextDataWrapInner><p>Kian Joo told Bursa Malaysia today the company and Aspire had "mutually agreed" to terminate the business sale agreement (BSA) besides the properties sale (PSA) and assets sale agreements (ASA). &nbsp;<br />
&nbsp;<br />
“The BSA, ASA and PSA will cease to have any effect and will become null and void and neither party shall have any claim whatsoever against the other,” Kian Joo said.</p></div>

<div class=newsTextDataWrapInner><p>In November 2013, Aspire offered to buy Kian Joo's assets and liabilities for RM1.47 billion or about RM3.30 per share.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>In March 2014, Kian Joo and Aspire signed the BSA, PSA and ASA for the planned disposal. Kian Joo said then it intended to undertake a capital reduction and cash repayment should the takeover materialised.</p></div>

<div class=newsTextDataWrapInner><p>Kian Joo said it planned to distribute the sale proceeds to shareholders at "not less than RM3.30 per Kian Joo share." &nbsp;&nbsp;<br />
&nbsp;<br />
Today, trading of Kian Joo shares was halted between 9.43am and 10:43am in conjunction with the takeover deal termination announcement.</p></div>

<div class=newsTextDataWrapInner><p>At 10:50am, Kian Joo shares fell four sen or 1.3% to RM3.11 for a market capitalisation of RM1.4 billion. The stock saw 42,200 units traded.</p></div>


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Kian Joo told Bursa Malaysia today the company and Aspire had "mutually agreed" to terminate the business sale agreement (BSA) besid...

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