Lien Hoe minority shareholders advised to reject takeover offer

Mercury Securities said the offer was not reasonable, as the shares would remain tradable on the Main Market and the holders can realise their investment by disposing of the shares in the open market.

PETALING JAYA: Lien Hoe Corp Bhd’s minority shareholders have been advised to reject the takeover offer by its managing director Datuk Yap Sing Hock, as the offer price of 25.5 sen is sharply below the fair value.

Independent adviser Mercury Securities Sdn Bhd said in a circular yesterday that the offer price was lower and at a discount of RM1.245 or 83% over the value of the offer price and was unfair to the minority shareholders. The offer is open until Oct 2.