(Reuters) – A takeover offer for Malaysia Airports Holdings by a consortium comprising the country’s sovereign wealth fund and BlackRock has been extended for a third time this month to Feb. 4, a stock exchange filing on Monday showed.
The consortium, including Malaysia’s sovereign wealth fund Khazanah and BlackRock’s Global Infrastructure Partners, has now secured an additional 45.63% stake as of Jan. 17, the filing showed, bringing their total control to 86.51%.
The offerors also lowered the acceptance condition to at least 85%, and continued to offer 11 ringgit per share to buy all remaining shares, giving the airports operator an equity value of 18.4 billion ringgit ($4.09 billion).
If the acceptance condition of the offer is met, the offerors do not intend to maintain the listing of the offeree on the stock exchange, the filing showed.
The consortium had earlier extended the takeover offer to Jan. 24 from the prior deadline of Jan. 17.
Shares of the airports operator have risen around 5% since the offer was first announced in mid-May last year, but have remained below the 11 ringgit apiece offer price. The stock was trading 0.6% higher at 10.96 ringgit as of 0436 GMT.
($1 = 4.4980 ringgit)
(Reporting by Kumar Tanishk in Bengaluru; Editing by Rashmi Aich)
