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Tony Tiah’s unconditional mandatory takeover offer on TA Enterprise deemed not fair but reasonable

In an independent advice circular posted on Bursa Malaysia’s website today, independent advisor DWA Advisory Sdn Bhd said the 65.5 sen offer price for the shares that Tiah does not own (through TA Securities Holdings Bhd) constituted a discount of RM1.60 to RM1.61 or 71.11% to 71.24% to the estimated value of TAE shares, which are between RM2.25 and RM2.26 per share based on a sum of parts valuation

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