LTAT confirms it is considering taking Boustead private

KUALA LUMPUR (May 28): LTAT has announced that it is considering taking Boustead Holdings Bhd private at an indicative price of 80 sen per share compared with today's closing price of 63 sen.

However, the Army fund said the notification does not amount to a firm intention that it will undertake the proposal. "Accordingly, there can be no certainty that we will proceed with the proposal.

"If we decide to proceed with the proposal, we expect to propose an offer price of RM0.80 per ordinary share in BHB. This offer price is indicative only and non-binding. The final offer price in relation to the proposal (if undertaken) is subject to finalisation by LTAT," said LTAT in a statement.

"We will make subsequent announcement(s) on any material development in relation to the Proposal in accordance with the Rules on Take-overs, Mergers and Compulsory Acquisitions," it added.

More to come...