FGV Holdings Bhd shares fell yesterday morning following the latest announcement regarding the company's restructuring measures by the Federal Land Development Authority (Felda).
As of 10.02am, FGV shares were down one sen to RM1.30 with 64,300 shares traded.
On Monday, Felda announced that the official offer document had been submitted to interested parties with the offer deadline set at 5pm, July 7, 2025, unless extended.
The offer is an unconditional voluntary takeover bid by Felda to acquire the remaining FGV shares at RM1.30 per share.
Felda and its subsidiary, Felda Holdings Company Sdn Bhd own an 82.34% stake in FGV, the agency said that its influence over the company's management remains limited as it does not control the FGV board of directors.
The new offer announced on May 26 also shows a continuation of Felda's efforts to restructure FGV in 2020 which appeared to be unsuccessful.
In 2020, Felda launched a mandatory takeover by increasing its stake in FGV to 33.66% through the purchase of shares worth RM658 million from the Retirement Provident Fund (EPF) and Urusharta Jamaah.
