Bidding war over Malaysia's RHB

Kuwait Finance House offers to buy a controlling stake in Rashid Hussain Bhd.

Middle East consortium, Kuwait Finance House, has bid M$2.16 billion $618 million for a stake in the debt-ridden Rashid Hussain Bhd RHB, in an effort to create the worldÆs largest Islamic bank. The offer was conditionally accepted last Wednesday.

But this is by no means a done deal. Later on Wednesday afternoon, Malaysia's EON Capital Bhd launched its own takeover bid for RHB.

HereÆs the flow-chart of the offer so far Kuwait Finance House has offered through its...

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