Parkway Holdings (P27.SG) may be closely watched with investors holding out for counter bid from Khazanah as its $3.78 partial takeover offer expires today.
Market watchers expect bidding war between Khazanah and Fortis for control over PWAY to continue. Newswires report that Khazanah has started talks with 5 banks - ANZ, CIMB, DBS, OCBC and UOB, for loans that would allow it to raise its offer for PWAY, following Fortis’ recent counteroffer at $3.80/sh...
Khazanah told the banks it may need to borrow at least $1bn, while other sources said Khazanah will increase a planned sale of Islamic bonds to as much as $1 billion from an initial $500 million if it decides to offer more for Parkway. Khazanah’s initial partial offer is scheduled to expire at 5.30pm today.
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