PETALING JAYA: Tan Sri Quek Leng Chan's takeover of Hong Leong Capital Bhd
(HLCap) has hit a snag, handing, at least for now, a victory to minority shareholders who are gunning for a better offer.
A filing to the stock exchange showed that Hong Leong Financial Group Bhd (HLFG), which proposed last month to take its 79.09%-owned unit private for RM1.71 a share, had only acquired a 2.24% stake or 5.54 million shares via acceptances during the offer period, taking its holdings to 200.72 million shares.
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