HL Bank ups offer to RM5.1bn ... HL Bank (MP, FV=RM9.05) has upped its cash offer to acquire EON Cap’s (OP, FV=RM8.07) assets and liabilities to RM5,060.4m from RM4,921.8m (Offer). The revised Offer translates into RM7.30/EON Cap share (from RM7.10/share) or 1.42x FY09 BV/share (1.39x previously). According to press reports, the sweetened deal was made as EON Cap’s independent directors were of the view that they could not present the same offer to shareholders. The Board of EON Cap has until 5 Apr to reply to the Offer.
Banking : HL Bank Ups Offer For EON Cap- 02/04/2010
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