Genting Bhd’s offer for Genting Malaysia becomes mandatory at 57.008% stake
Genting Bhd’s offer for the shares it does not own in Genting Malaysia became an unconditional mandatory takeover after its open-market purchases crossed Malaysia’s 2% threshold. Its stake reached 57.008%, and the offer period was extended to 5pm on 1 December from 5pm on 24 November; the highest price paid did not exceed the MYR2.35 offer price, the company said.
The mandatory status and extended deadline affect the terms and timing for Genting Malaysia shareholders considering the offer.