Malaysian billionaire T. Ananda Krishnan is set to make a RM20.50 (US$6.44) per share bid to privatise the Tanjong PLC utilities and gaming business that he is a shareholder in, two sources with direct knowledge of the proposed deal told Reuters.
Under the terms of the proposed deal, Krishnan's Usaha Tegas investment vehicle and other associated entities will make an offer for the 53 percent of Tanjong that they do not already own.
Tanjong officials were not immediately available for comment on Thursday, July 29.
Tanjong shares were suspended on Tuesday and the stock last traded at RM17.88. - Reuters
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