Following the Malaysian government announced in Budget 2011 that the PLUS toll rate would not be increased for the next five years from today onwards.
Today, UEM Group Berhad and Employees Provident Fund Board have jointly offer to acquire and take over the entire business of PLUS Expressway Berhad for a total consideration of RM23 billion, representing an offer price of RM4.60 per share of PLUS.
Last trade price before suspended was RM4.46, a mere premium of RM0.14 or 3.1%. This little premium may not good enough to attract a good acceptance from the minority shareholders as the minority shareholders may prefer to keep PLUS in their hands and earning a reasonably good and stable return, given that PLUS is viewed as a mature, cashflow generating asset with an attractive risk-return profile.
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