KUALA LUMPUR Dec 26 Shares in Malaysian
commodity firm Tradewinds (M) Bhd jumped to an
five-month high on Wednesday following a 1.5 billion ringgit
($489.40 million) buyout offer by Malaysia's seventh richest man
Syed Mokhtar Al-Bukhary.
Tradewinds surged nearly 15 percent to 8.90 ringgit on
Wednesday, just a whisker from the offer price of 9.30 ringgit
made by the reclusive tycoon.
The deal would result in the Syed Mokhtar leading a
mandatory general offer for two units under Tradewinds,
Tradewinds Plantations Bhd and national rice
distributor Padiberas Nasional Bhd, for 4.03 ringgit
and 3.25 ringgit per share respectively.
Shares of Tradewinds fell 3.07 percent to 4.10 ringgit on
Wednesday, while Padiberas lost 0.6 percent to 3.29 ringgit.
The offer for Tradewinds comes after Syed Mokhtar's
autos-to-property conglomerate DRB-Hicom Bhd took the
country's largest automaker Proton Holdings Bhd private for
$412 million in January.