MALAYSIA PRESS-Felda Global will not submit counter offer for NBPOL-New Straits Times
KUALA LUMPUR, Oct 13 (Reuters) - Felda Global Ventures Holdings Bhd (FGV) will not pursue the acquisition of New Britain Palm Oil Ltd (NBPOL) after Sime Darby Bhd's fresh 5.63 billion ringgit offer for the planter.
Sources said FGV will not counter offer as it will be too expensive.
"No, they will not continue to bid for NBPOL as it's too pricey," the source told Business Times.
Sime Darby launched a general offer to buy all shares in NBPOL for 7.15 pounds each on Thursday, less than two weeks after it had turned down the chance to buy Kulim (Malaysia) Bhd's 48.97 percent stake in London-listed NBPOL.
-New Straits Times
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