Hong Leong Bank Bhd said Monday it is not extending its MYR4.92 billion buyout offer for EON Capital despite a request by some EON Capital shareholders.
Malaysia's sixth largest lender by assets said in a stock exchange filing that it was unable to consider a request by EON Capital shareholders Kualapura (M) Sdn. Bhd. and Lintang Emas Sdn. Bhd. for the deadline to be extended.
The offer from Hong Leong Bank expired last week after EON Capital's board rejected a MYR7.10 per share offer for being too low.
"Hong Leong Bank is unable to consider (Kualapura and Lintinga Emas') request as the Board of EON Capital had rejected the offer and Hong Leong Bank has not been informed of any change in the Board of EON Capital's position," the company said.
Kualapura and Linting Emas had last week called for an extraordinary meeting of EON Capital for the appointment of eight new directors in an attempt to revive the Hong Leong Bank deal.