Primus suit delays EON takeover vote
Primus Pacific Partners, the single biggest stakeholder in Malaysian lender EON Capital, has caused a delay to a vote by the bank's shareholders on a $1.6 billion takeover bid from Hong Leong Bank by launching a lawsuit to block the buyout offer, claiming it is unlawful and against shareholders' interests.
Hong Leong, in response, said it will withdraw the proposal if it does not receive shareholder approval by mid-August. EON shareholders rejected an initial Hong Leong offer in February as too low. Even...
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