Boustead takes over Pharmaniaga for RM534m

The conglomerate said yesterday it would buy UEM Group Bhd’s entire 86.8 per cent stake in Pharmaniaga for RM534 million cash, or RM5.75 a share. This is a 12.7 per cent premium over Pharmaniaga’s last traded price of RM5.10 on Thursday. Boustead later plans to make a mandatory general offer for the rest of the shares it doesn’t own “at a comparable price”, group managing director Tan Sri Lodin …

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