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MISC makes $980m reverse bid for Ramunia

MISC makes $980m reverse bid for Ramunia

Kuala Lumpur: Malaysian shipper MISC Berhad has made a 3.2bn ringgit ($979m) takeover bid for oil-services firm Ramunia Holdings, reveals Reuters. The bid would see Ramunia issue shares well over its current market value to MISC in return for the company's unlisted ship-building unit, Malaysia Marine and Heavy Engineering (MMHE). If successful, the bid would give MISC control of a regional business building offshore oil-and-gas rigs.

MMHE (pictured) has the capability to build oil rigs, convert ships and repair LNG tankers.

The MISC offer is due to lapse 0900 GMT on Monday.  [22/01/08]

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