Deals
Malaysia Armed Forces Fund Weighs Taking Boustead Private
- LTAT said it expects to propose offer price of 80 sen/share
- Boustead shares have jumped more than 20% in last two days
The fund was set up in 1972 to provide retirement and other benefits to members of Malaysia’s military.
Photographer: Samsul Said/BloombergThis article is for subscribers only.
Malaysia’s armed forces pension fund confirmed that it’s considering taking conglomerate Boustead Holdings Bhd. private.
Lembaga Tabung Angkatan Tentera, which owns 59% of Boustead, said in a statement late Thursday that it expects to propose an offer price of 80 sen ($0.18) per share if it decides to proceed. That compares with Thursday’s close of 63 sen. The offer is indicative only and non-binding, the fund said.