Malaysia's Sime cuts bid price for Hyundai-Berjaya

Newswire

KUALA LUMPUR, June 17 (Reuters) - Malaysian conglomerate Sime Darby Bhd reduced its offer price for a 51 percent stake in car distributor Hyundai-Berjaya Corp Bhd by 12.2 percent on Thursday amid market concerns it might have overpaid for the deal. The revision came after Sime replaced its chief executive, sparking concerns in the market that the new chief executive might abort the purchase. Sime is now offering 3.60 ringgit ($0.95) a share, compared with the 4.10 ringgit it paid in ...

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