The proposed acquisition of IJM Corp is due to the need for a company with the size to tap into the rising investment activities in Malaysia, said Sunway president Datuk Anuar Taib at a briefing on Monday.
Sunway Bhd plans to acquire rival company IJM Corporation Bhd in a cash-and-share deal worth over RM11 billion.
Under the terms of the proposed deal, each 1,000 shares of IJM Corp entitles its holder to RM315 in cash and 501 Sunway shares worth RM2,835. If successful, the combined entity would rival Malaysia’s largest construction firm by revenue Gamuda Bhd.
