Petronas, which is already the largest shareholder in MISC with a stake of just under 62.67%, will offer MYR 5.30 ($1.7) per unit for the outstanding shares.
The bid price is an 18% premium on the MYR 4.49 per share closing price in Kuala Lumpur on 30 January.
“The offer represents a significant step by Petronas to take MISC private and obtain full control of the company,” Petronas said today in a statement.
“That
