Friday 28 October 2011

Hirotako jumps on MBM buyout offer

Hirotako Holdings Bhd, a Malaysian manufacturer of safety belts and air-bags for vehicles, rose to a record in Kuala Lumpur trading after MBM Resources Bhd made a buyout offer for the company at 97 sen a share.

The stock jumped 7.4 percent to 94.5 sen at 9:02 a.m. local time. MBM gained 0.7 percent to RM3.12. -- Bloomberg
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