KUALA LUMPUR: Shareholders of Malaysia Packaging Industry Bhd (Maypak) have been advised to accept the revised RM1 per share takeover offer from Taisei Lamick Co Ltd, although the offer is deemed not fair. Further, the revised offer price is higher than the market price but is still lower than the value of the offer shares, thus viewing it as not fair. On October 31, Taisei Lamick revised the offer price to RM1, which would remain open for acceptance until 5pm on November 15. The offer has triggered a mandatory takeover offer to acquire all the remaining shares in Maypak it did not own. Maypak closed 1.5 sen, or 1.5 per cent, higher at RM1.01 yesterday with thin trade of 34,400 shares.

Source: New Strait Times November 08, 2016 03:09 UTC