Sunway Founder Ready to Withdraw IJM Acquisition Offer by April Deadline

Sunway founder Jeffrey Cheah has announced that the conglomerate is prepared to abandon its bid to acquire IJM if the builder's shareholders do not accept the proposal by the April 6 deadline. Bloomberg posted on X, highlighting Cheah's firm stance on the acquisition terms. Sunway's offer is contingent upon shareholder approval, and Cheah emphasized the importance of meeting the deadline to proceed with the deal. The acquisition aims to expand Sunway's portfolio, but Cheah is clear that the company will not proceed without the necessary shareholder support. The deadline remains a critical factor in determining the future of the acquisition.