PETALING JAYA: In an unexpected twist to the takeover saga of Kian Joo Can Factory Bhd, the company received a non-binding letter of interest (LOI) from Japan’s Toyota Tsusho Corp (TTC) yesterday to acquire a 51% stake in the can manufacturer for a tentative maximum price of RM3.74 per share.
TTC said the LOI was submitted after reviewing Kian Joo’s historical and current share price and was subject to the completion of a due diligence on Kian Joo and its related companies.
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