UMW still pursuing takeover offer for MBM Resources

PETALING JAYA: UWM Holdings Bhd is still not giving up on its take over bid for MBM Resources Bhd despite being rejected for the second time.
UMW said in a filing with the stock exchange that it remains open to discussions with MBM’s major shareholders Med-Bumikar Mara Sdn Bhd and Central Shore Sdn Bhd (CSSB).
“Notwithstanding the position taken by the board of directors of Med-Bumikar and CSSB, UMW remains interested to re-engage discussion should Med-Bumikar, CSSB and their shareholders wish to reconsider the MBM offer,” it noted.
On Monday, Med-Bumikar and CSSB warned against UMW engaging with its key principals, brand owners of the distributorship marque, after they reiterated their rejection of the takeover offer for MBM Resources for RM2.56 per share.

MBM holds dealerships for Perodua, Mitsubishi, Volkswagen, Volvo, Daihatsu and Hino brands.