Malaysia's palm oil giant KLK makes takeover offer for IJM Plantations

KUALA LUMPUR: Malaysian palm oil giant Kuala Lumpur Kepong (KLK) Bhd has made an offer to buy IJM Corporation Bhd's entire stake in IJM Plantations Bhd for 1.53 billion ringgit, IJM Corp said on Wednesday.

IJM Corp said in a bourse filing it has received a letter from KLK, one of the largest palm oil planters in the country, offering to acquire its 56.2per cent equity holding at 3.10 ringgit per share.

(Reporting by Mei Mei Chu, editing by Louise Heavens)