KUALA LUMPUR (March 2): Hitachi Ltd has launched a conditional voluntary general offer for EBWORX BHD [] with an indicative purchase price of 90 sen a share.
The company said on Friday that it had on Thursday evening received a letter from Hitachi about its potential proposal to acquire all the shares.
“The potential buyer (or an affiliate owned by the potential buyer) proposes to acquire the shares by making a conditional voluntary general offer to all holders of the shares with a minimum level of acceptances of no less than 85% of the nominal value of the Shares excluding the treasury shares held by the company,” it said.
eBworx said the potential buyer was expected to make an offer by serving the requisite notice in April 2012.
“Having deliberated on the contents of the letter, the board has agreed for the potential buyer to proceed with the due diligence (to the extent permitted by applicable laws and regulations) on the company,” it said.
The company said on Friday that it had on Thursday evening received a letter from Hitachi about its potential proposal to acquire all the shares.
“The potential buyer (or an affiliate owned by the potential buyer) proposes to acquire the shares by making a conditional voluntary general offer to all holders of the shares with a minimum level of acceptances of no less than 85% of the nominal value of the Shares excluding the treasury shares held by the company,” it said.
eBworx said the potential buyer was expected to make an offer by serving the requisite notice in April 2012.
“Having deliberated on the contents of the letter, the board has agreed for the potential buyer to proceed with the due diligence (to the extent permitted by applicable laws and regulations) on the company,” it said.
