Malaysia's Sime accepts Synergy Drive merger offer

Malaysian conglomerate Sime Darby Bhd said on Thursday it had decided to accept a merger offer that is expected to create the world's largest listed palm oil planter worth $8.6 billion.
`Sime Darby wishes to announce that the board has today decided to accept the offer from Synergy Drive to acquire the entire business and undertaking of the company,` the firm said in a statement to the stock exchange.

Three Malaysian state-controlled plantation firms announced plans last month to join forces, creating the world's largest listed palm oil planter, accounting for 6 percent of global production.

Sime, Kumpulan Guthrie Bhd and Golden Hope Bhd plan to put their assets and liabilities into a new entity, Synergy Drive, adviser CIMB Investment Bank has said.
Source: Reuters