GSB's share price fall 10% after takeover deal falls through

PETALING JAYA: GSB Group Bhd’s share price fell 10% on early trade to 20 sen on news of the takeover offer by Jawavana Sdn Bhd falling through.
At 11.08am, the stock was trading at 20.5 sen with 11.15 million shares done.
Jawavana's bid to take over GSB fell through as it did not accept valid acceptances of more than 50% of the voting shares.
GSB told Bursa Malaysia on Friday, that the offeror only had about 40.17% or some 215 million voting shares as at 5pm of June 29, hence the acceptance condition has not been fulfilled.