MRCB-IJM Land merger called off

Posted on | December 30, 2010

By THE STAR

PETALING JAYA: Property firms IJM Land and MRCB have aborted their planned merger by way of a members’ scheme of arrangement as both companies have not been able to come to an agreement.

Separate announcements by both companies were made to the stock exchange on Friday concerning the matter.

RHB Investment Bank and Newfields Advisors announced on behalf of MRCB that both companies “have not been able to reach an agreement on the definitive terms and conditions of the proposed merger”.

Accordingly, they said the proposed merger was now aborted.

Meanwhile, an IJM Land statement on Bursa Malaysia said after a series of discussions, both were not able to reach an agreement on the definitive terms of the proposed merger.

- MRCB IJM Land Merger Aborted

You might also like

IJM Land-MRCB merger called off By THE STAR Companies unable to reach agreement on terms and conditions PETALING JAYA: Property...

MRCB-IJM Land merger aborted ‘over CEO choice’ By THE STAR Source says breakdown of MRCB-IJM Land talks purely management related PETALING JAYA:...

IJM Land, MRCB extend merger deadline By BLOOMBERG IJM Land Bhd and Malaysian Resources Corp, two Malaysian developers, agreed to extend...

MRCB deal with IJM Land is off By BUSINESS TIMES Malaysian Resources Corp Bhd (MRCB) may look for a new takeover target after its...