KUALA LUMPUR (April 15): Property developer Tiger Synergy Bhd has called off its RM16 million acquisition of semiconductor services company, BPE Synergy Engineering Sdn Bhd.
In its filing to Bursa Malaysia today, Tiger Synergy said it has aborted the memorandum of understanding (MoU) entered between both parties on Jan 6, 2016, as a consensus on the terms and conditions of the proposed acquisition could not be reached by both parties, during the negotiation period.
To recap, Tiger Synergy had signed the MoU to acquire printed circuit board manufacturer, BPE Synergy, through a share swap, totaling RM16 million of consideration.
Tiger Synergy shares ended the day up 0.5 sen or 10% today at 5.5 sen, for a market capitalisation of RM76.48 million.
TIGER (7079) - Tiger Synergy calls off RM16m acquisition of semiconductor services company
http://www.theedgemarkets.com/my/article/tiger-synergy-calls-rm16m-acquisition-semiconductor-services-company
