The offer was supposed to close 5 Nov 2008 but has been extended to November 17 to enable more shareholders to participate in the exercise. IJM is paying 26 sen cash and issuing 0.6 new share for every ICP share under the offer.
Is it worth it?
Current price of ICP = 1.73
Current price of IJM = 2.80
Take over offer= RM 260 + 1680 (from 0.6 IJM share *2.80)= 1940
Earn = 1940 - 1730 = 210
Maybe need 2 weeks to exercise the deal.
So is it worth it, NO loh. Who know what will happen within 2 weeks in STOCK market.