KUALA LUMPUR (May 5): Can-One Bhd’s share price fell about 6% after rising in Bursa Malaysia morning trade today following the can manufacturer’s announcement yesterday it received a notice of unconditional mandatory takeover offer from substantial shareholder Eller Axis Sdn Bhd to acquire the remaining shares in Can-One not owned by Eller Axis and ultimate offeror Yeoh Jin Hoe.
At 9:38am today, Can-One’s share price fell 17 sen or 5.72% to RM2.80 after rising to its highest so far today at RM2.91.
Can-One’s share trade resumed today following a suspension yesterday in conjunction with the takeover offer announcement.
In a statement to Bursa yesterday, Can-One said pursuant to paragraph 3.06 of Bursa’s rules on takeovers, mergers and compulsory acquisitions, an independent adviser will be appointed by the board of Can-One to provide comments, opinions, information and recommendation on the offer to non-interested directors and holders of the offer shares.
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Can-One has received a notice of unconditional mandatory takeover offer from major shareholder Eller Axis Sdn Bhd to acquire the remaining shares in Can-One not owned by Eller Axis and the ultimate offeror Yeoh Jin Hoe for RM2.50 per share.
KUALA LUMPUR: Can-One Bhd's major shareholder and director Yeoh Jin Hoe has raised his stake in the company to 44.67%, triggering a mandatory takeover offer.
KUALA LUMPUR (May 4): Can-One Bhd has received a notice of unconditional mandatory takeover offer from major shareholder Eller Axis Sdn Bhd to acquire the remaining shares in Can-One not owned by Eller Axis and the ultimate offeror Yeoh Jin Hoe for RM2.50 per share.
According to the notice of the offer from UOB Kay Hian sent on behalf of Eller Axis, which Can-One filed with Bursa Malaysia today, Eller Axis inked an unconditional share sale agreement with Genkho Candoz Sdn Bhd today to acquire 40.24 million shares or 20.94% in the metal-can manufacturer at RM2.50 per share or RM100.6 million in total, cash.
Can-One gets takeover offer from major shareholder at RM2 50 per share msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.