Malaysia’s IJM board calls Sunway's $2.8 billion takeover bid 'not fair', urges rejection
Published on March 13, 2026.
Malaysian construction firm, IJM Corp., has called for its shareholders to reject a $2.80 billion takeover bid from conglomerate Sunway (SWAY.KL). Independent adviser M&A Securities stated that the offer price was "not fair and not reasonable". The offer price represents a discount of between 46.1% and 51.4% to the estimated value of IJM shares. If successful, this would be Asia's fourth-largest deal this year.
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