Bernas, Tradewind surge on revised takeover offers
KUALA LUMPUR: Shares of Padiberas Nasional Bhd (Bernas) and Tradewinds Plantations rose sharply yesterday after their takeover offer prices were raised to RM3.70 and RM5, respectively.
Bernas chalked up a 39 sen gain to RM3.67 with 10.9 million shares changing hands. Tradewinds added 50 sen to RM4.95 with 6.6 million units traded.
Tradewinds and Bernas said on Thursday that the takeover offers have been increased to RM5 per share from RM4.03 and RM3.13 per ICULS from RM2.43 previously for Tradewinds Plantations; and RM3.70 per share from RM3.25 previously for Bernas.
Businessman Tan Sri Syed Mokhtar Albukhary had, via his four companies, extended the takeover offer for both companies after he succeeded in his bid to take Tradewinds (M) Bhd private.
On December 24, Perspective Lane together with Syed Mokhtar's three other private companies made a joint offer to buy out remaining shares not already owned in Tradewinds for RM9.30 per share.
The successful bid triggered a mandatory general offer for Tradewinds Plantations and Bernas.
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