KUALA LUMPUR (Jan 27): The takeover offer for TA Enterprise Bhd by major shareholder Datuk Tony Tiah has been extended to March 5 (Friday) from Jan 25 (Monday).
The extended closing day is to give the holders more time to accept the offer, TA Enterprise told Bursa Malaysia.
On Dec 15 last year, Tiah announced he would acquire all the remaining shares in TA Enterprise at an offer price of 65.5 sen.
As of Jan 21, shares held by Tiah together with the valid acceptances totalled 2 billion shares or 80.33%.
The independent advisor to the offer — DWA Advisory Sdn Bhd — said the unconditional mandatory takeover offer on TA Enterprise by major shareholder is viewed as not fair but reasonable, and shareholders are recommended to accept the offer.
At lunch break today, TA Enterprise was unchanged at 65 sen, valuing the company at RM1.62 billion.