MP Evans owns oil palm plantations in Indonesia and Malaysia. MP Evans said in a statement today its shareholders representing an aggregate 54.72% of the company had rejected KLK's offer. Earlier, KLK told Bursa Malaysia that its offer was "highly attractive" for MP Evans shareholders. As such, KLK said its offer provided MP Evans shareholders the opportunity to realise the value of their investment in MP Evans — the shares, which had seen low trading liquidity. In the UK yesterday, MP Evans shares closed 14.5 pence higher at 624.5 pence for a market value of £348.1 million.

Source: The Edge Markets October 27, 2016 04:21 UTC