SIME DARBY Bhd declares its takeover offer for the remaining shares in UMW Holdings Bhd as unconditional, having secured more than 50% of voting shares.

The completion of the controlling stake acquisition on December 13, amounting to RM3.57 billion, establishes Sime Darby as the major shareholder of UMW.

Sime Darby’s noteworthy move to acquire a 61.2% stake in UMW, known for its top-selling brands Perodua and Toyota, made headlines on August 24.

The proposed offer of RM5 per share represented an 8.0% premium over UMW’s last traded price, marking its 52-week high since a steady rise from July 11 when it traded at RM3.80. The acquisition involved purchasing UMW shares from Permodalan Nasional Bhd and Amanahraya Trustees Bhd. CIMB Investment Bank Bhd, representing Sime Darby, conveyed that the offer remains open until January 17, 5 pm, unless extended or revised.

Sime Darby affirms its intention not to maintain UMW’s listing status on Bursa’s Main Market. Today, Sime Darby’s share price increased by one sen to RM2.37, resulting in a market capitalization of RM16.15 billion. Concurrently, UMW’s share price experienced a 1 sen gain, reaching RM4.99, representing a 0.2% increase, and concluding with a market value of RM5.83 billion. – TMR