KUALA LUMPUR (March 15): PROTON HOLDINGS BHD []’s board of directors has picked Affin Investment Bank Bhd as an independent adviser for the non-interested directors and shareholders in relation to DRB-HICOM BHD []’s takeover offer.
“The board of directors of Proton wishes to confirm that the board is not seeking any other person to make a take-over offer of its voting shares or voting rights,” it said in a statement to Bursa Malaysia.
Proton also advised the holders of the offer shares not to take any action until they have received the independent advice circular from the independent adviser.
On Wednesday, Proton received a notice of unconditional take-over offer from Maybank Investment Bank Berhad, on behalf of DRB-Hicom which had extended a mandatory take-over offer to acquire all the remaining 274.55 million Proton shares or 49.99% at RM5.50 cash per share.
“The board of directors of Proton wishes to confirm that the board is not seeking any other person to make a take-over offer of its voting shares or voting rights,” it said in a statement to Bursa Malaysia.
Proton also advised the holders of the offer shares not to take any action until they have received the independent advice circular from the independent adviser.
On Wednesday, Proton received a notice of unconditional take-over offer from Maybank Investment Bank Berhad, on behalf of DRB-Hicom which had extended a mandatory take-over offer to acquire all the remaining 274.55 million Proton shares or 49.99% at RM5.50 cash per share.
