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MMC offer for NCB goes unconditional

MMC offer for NCB goes unconditional
MMC Corp's takeover offer for port and logistics operator NCB Holdings has gone unconditional, with the group, through its MMC Port Holdings unit, offering MYR4.40 per share for all the shares it does not own, the company said in a stock market release.

The deadline for acceptances is 5pm local time on 6 January 2016.

MMC Port has raised its stake in NCB to 83.55% and is just short of the 90% mandatory takeover level. MMC Corp plans to take NCB private, after completing the takeover process.