In a statement on Monday, Maybank Investment Bank said the offer has lapsed and IJM shares will be returned to the accepting shareholders.
Sunway Bhd’s bid to take over IJM Corp Bhd has failed, after it failed to meet the conditional requirement of securing an over 50% stake in the latter.
As at 5pm on April 6, the closing date of the offer, Sunway had received acceptances amounting to only 33.43%.
