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Sept. 29 (Bloomberg) -- SP Setia Bhd., Malaysia’s biggest listed developer by sales, said Permodalan Nasional Bhd.’s takeover offer of 3.90 ringgit a share “fundamentally undervalues” the company and will seek competing offers.
SP Setia will also ask Permodalan, or PNB whether it’s interested in raising its offer, it said in a statement late yesterday.
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