KUALA LUMPUR (Jan 20): S P Setia Bhd president and chief executive officer Tan Sri Liew Kee Sin and Permodalan Nasional Bhd (PNB) will be the joint offerors in the takeover of the S P Setia under the revised terms.
S P Setia said on Friday that Liew would participate as a joint offeror and the offer price for each share and warrant would be revised higher by five sen each to RM3.95 and 96 sen each.
“The company wishes to announce that PNB, Liew and the company have entered into an agreement which relates to the management and general conduct of the business of S P Setia group of companies wherein Liew would remain as the group president and CEO of S P Setia,” it said.
S P Setia said the board had deliberated on the revised offer and considering that there is no alternative bid received to date, “the board is not seeking a competing offer for the company's securities”.
S P Setia said on Friday that Liew would participate as a joint offeror and the offer price for each share and warrant would be revised higher by five sen each to RM3.95 and 96 sen each.
“The company wishes to announce that PNB, Liew and the company have entered into an agreement which relates to the management and general conduct of the business of S P Setia group of companies wherein Liew would remain as the group president and CEO of S P Setia,” it said.
S P Setia said the board had deliberated on the revised offer and considering that there is no alternative bid received to date, “the board is not seeking a competing offer for the company's securities”.
