Deals
EON Accepts Hong Leong Bank Takeover Offer, Plans Dividend
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EON Capital Bhd. accepted Hong Leong Bank Bhd.’s 5.06 billion ringgit ($1.7 billion) takeover offer for the Malaysian bank after the bid was sweetened with a dividend payment to existing EON shareholders.
EON accepted the bid on condition Hong Leong had no objections to a 311.9 million ringgit dividend payout, it said in a statement today. Hong Leong said in a separate statement that it’s “agreeable” to EON’s proposal. The companies’ shares were suspended on the Kuala Lumpur stock exchange today.