HONG LEONG BANK BHD [] has made an offer to acquire the entire assets and liabilities of EON CAPITAL BHD [] for RM4.92 billion to be satisfied fully in cash.
HL Bank said on Thursday, Jan 21 the offer, which will be satisfied fully in cash, is based on the issued and paid-up share capital of EON Capital Bhd as at Sept 30, 2009 that translates to a price of RM 7.10 per EON Capital share.
The offer price of RM 7.10 per share represents a premium of 31.5% to the 180-day volume weighted average price (VWAP) of EON Capital shares as at Dec 16, 2009, being the date prior to the announcement of HLBB’s receipt of Bank Negara Malaysia’s approval to commence negotiations with EON Capital's substantial shareholders.
"The offer, if accepted, will result in the merger of HLBB and EON Capital that would lead to the creation of a new enlarged banking franchise with significant size and reach both in Malaysia and regionally," it said.
EON Cap shares closed three sen lower at RM7.10 on Thursday.
TheEdgeMalaysia
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