Malaysian construction conglomerate IJM Corp Bhd. shares fell after Sunway Bhd.’s takeover offer lapsed, raising the risk of near-term selling pressure as investors reassess its outlook.
Malaysian construction conglomerate IJM Corp Bhd. shares fell after Sunway Bhd.’s takeover offer lapsed, raising the risk of near-term selling pressure as investors reassess its outlook.
Cranes operate at an IJM Corp construction site in Penang, Malaysia.
Malaysian construction giant Sunway Bhd.’s 11 billion ringgit ($2.8 billion) takeover bid for IJM Corp Bhd. faces growing uncertainty after the target’s board and an independent adviser urged shareholders to reject the offer, citing valuation concerns. Analysts are divided on how investors should respond.
Malaysian construction giant Sunway Bhd.’s 11 billion ringgit ($2.8 billion) takeover bid for IJM Corp Bhd. faces growing uncertainty after the target’s board and an independent adviser urged shareholders to reject the offer, citing valuation concerns. Analysts are divided on how investors should respond.
Sunway Bhd.’s proposed 11 billion ringgit ($2.7 billion) takeover of IJM Corp Bhd. is drawing political scrutiny over concerns that it could dilute both the equity interests of the government and the rights of Malaysia’s indigenous majority.
Sunway Bhd.’s proposed 11 billion ringgit ($2.7 billion) takeover of IJM Corp Bhd. is drawing political scrutiny over concerns that it could dilute both the equity interests of the government and the rights of Malaysia’s indigenous majority.
Anmelden
