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IJM's RM1.98bil offer

PETALING JAYA: IJM Corp Bhd has offered minority shareholders of 64.15%-owned IJM Land Bhd a share-swap deal plus cash worth RM1.98bil, as the construction firm announced its plan to take its property development unit private.

The offer valued IJM Land at RM3.55 a share, or 11% higher compared with its last-traded price of RM3.20.

IJM Land said it would deliberate on the offer.

“Accordingly, a further announcement will be made in due course,’’ the company told Bursa Malaysia yesterday.

IJM Corp has set a deadline of June 23 for IJM Land to come back with an answer to its offer.

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