Just as it looked like Indonesian palm oil producer MP Evans (MPE LN) had seen off the hostile intentions of Kuala Lumpur Kepong (KLK MK) for at least 12 months, KLK has begun a stakebuilding process by looking to pick off willing sellers. First to go was Fidelity, an unsurprising sale given its removal from the Board supporters list on the improved 740p bid from KLK. Having picked up additional shares in the market since then, KLK now holds 11.19% of the company.
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VSA Agri Monthly
Just as it looked like Indonesian palm oil producer MP Evans (MPE LN) had seen off the hostile intentions of Kuala Lumpur Kepong (KLK MK) for at least 12 months, KLK has begun a stakebuilding process by looking to pick off willing sellers. First to go was Fidelity, an unsurprising sale given its removal from the Board supporters list on the improved 740p bid from KLK. Having picked up additional shares in the market since then, KLK now holds 11.19% of the company.