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Sunway has confirmed that its conditional voluntary takeover offer for IJM Corporation Berhad has lapsed
In a statement on 6 April, the group said the offer expired following the close of acceptances at 5pm on the same day.
The company expressed appreciation to stakeholders, partners, and investors who evaluated the proposal.
Sunway Group said that they were grateful for the opportunity to present its case transparently, adding that the level of engagement reflected both the significance of the transaction and the strength of Malaysia's capital markets.
They also revealed that its shareholders had shown overwhelming support during its general meeting
A total of 99.27% voted in favour of the proposal, indicating strong confidence in the strategic and commercial rationale behind the offer.
The group had maintained that the acquisition would create a larger, more resilient entity capable of delivering long-term and sustainable value.
Despite the outcome, Sunway said it respects the decision made by IJM shareholders
The group noted that differing perspectives are natural in transactions of this scale, and acknowledged the public discussions surrounding the offer.
Moving forward, the Sunway Group remains focused on executing its strategy and delivering value across its integrated businesses.
They also added that they will continue pursuing growth opportunities while staying committed to creating long-term value for stakeholders, communities, and the nation.
