Earlier this month, Sunway Berhad launched a conditional takeover offer for IJM Corporation Berhad, valued about 11 billion ringgit, largely through a share swap. The deal is framed to create a larger ‘national champion’ in construction and property, but it comes at a tricky time as MACC has launched a probe on IJM. We ask Pankaj C. Kumar, Business Commentator for his view on the valuations and if the deal will materialise.

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