KUALA LUMPUR (March 28) :The board of ENG TEKNOLOGI HOLDINGS BHD [] has accepted the revised takeover offer of RM2 a share by the founders and major shareholders of the hard disk drive component manufacturer.
In a statement to the exchange on Wednesday, Eng Teknologi said its directors will seek the company’s shareholders’ consent on the revised offer at an extraordinary general meeting.
Founders of Eng Teknologi Datuk Teh Yong Khoon, and Low Yeow Siang via private vehicle TYK Capital Sdn Bhd, have proposed to lower the offer price to RM2 from RM2.50 as their financiers were unable to justify the funding of the takeover at RM2.50, according to Eng Teknologi.
OSK Investment Bank Bhd is the independent adviser for the exercise.
In a statement to the exchange on Wednesday, Eng Teknologi said its directors will seek the company’s shareholders’ consent on the revised offer at an extraordinary general meeting.
Founders of Eng Teknologi Datuk Teh Yong Khoon, and Low Yeow Siang via private vehicle TYK Capital Sdn Bhd, have proposed to lower the offer price to RM2 from RM2.50 as their financiers were unable to justify the funding of the takeover at RM2.50, according to Eng Teknologi.
OSK Investment Bank Bhd is the independent adviser for the exercise.
