PETALING JAYA: Sime Darby Bhd’s takeover bid for the remaining shares it does not own in UMW Holdings Bhd at RM5 per share, has now become unconditional as Sime Darby already holds more than 50% of voting shares.
On Dec 13, Sime Darby completed an acquisition of a 61.2% stake in UMW, making it the new major shareholder of UMW.
CIMB Investment Bank Bhd, on behalf of Sime Darby, informed Bursa Malaysia today that the offer would remain open for acceptance until 5pm on Jan 17, 2024, unless extended or revised.
Sime Darby also said it does not intend to maintain the listing status of UMW on the Main Market of Bursa Securities.
As of 12.28pm, Sime Darby’s share price was up by one sen or 0.42% at RM2.37, giving it a market capitalisation of RM16.15 billion, while UMW’s share price was unchanged at RM4.98, valuing it at RM5.82 billion.