Stock Name: EONCAP
Company Name: EON CAPITAL BHD
Research House: OSK
Company Name: EON CAPITAL BHD
Research House: OSK
OSK Research has maintained its "neutral call" and its RM7.30 target price for EON Capital Bhd to reflect the takeover offer price from Hong Leong Bank Bhd (HLB), with no other credible competing offer from domestic or foreign banks.
"Given the need to wait for Primus Pacific Partners Ltd' appeal to go through the courts, HLB is likely to extend the deadline for EON Cap to accept its offer to acquire the entire assets and liabilities of EON Cap beyond April 30," it said in a research note today.
Primus had lost its suit against several EON Cap directors over the proposed sale of 100 per cent of the assets and liabilities to HLB.
To recap, HLB has offered RM5.06 billion or RM7.30 per share to acquire the entire asset and liabilities of EON Cap.
Meanwhile, HwangDBS Vikers Research said the potential merger between HLB and EON Cap would be beneficial as it would create the fourth largest bank in Malaysia with pocket opportunities for expansion. - Bernama
"Given the need to wait for Primus Pacific Partners Ltd' appeal to go through the courts, HLB is likely to extend the deadline for EON Cap to accept its offer to acquire the entire assets and liabilities of EON Cap beyond April 30," it said in a research note today.
Primus had lost its suit against several EON Cap directors over the proposed sale of 100 per cent of the assets and liabilities to HLB.
To recap, HLB has offered RM5.06 billion or RM7.30 per share to acquire the entire asset and liabilities of EON Cap.
Meanwhile, HwangDBS Vikers Research said the potential merger between HLB and EON Cap would be beneficial as it would create the fourth largest bank in Malaysia with pocket opportunities for expansion. - Bernama
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