KUALA LUMPUR (Dow Jones)--KNM Group Bhd. (7164.KU) said Thursday that it has received a buyout offer of 90 sen a share from a company controlled by its managing director and founding shareholder, Lee Swee Eng.

The offer is at a 20% premium to KNM shares' closing price of 75 sen.

The maker of process equipment for the oil and gas industry said in a stock exchange filing that BlueFire Capital Group Ltd., an entity controlled by Lee, plans to acquire KNM's entire business and undertakings.

KNM said the proposal is subject to "satisfactory completion of due diligence, receipt of firm financing commitments, and negotiation and execution of definitive documentation."

BlueFire has been granted a limited exclusivity period up to March 22 to complete its due diligence and satisfy the other conditions, the company said.

BlueFire is acting in collaboration with GS Capital Partners VI Fund L.P and Mettiz Capital Ltd. and the international adviser on the deal is Goldman Sachs (Singapore) Pte., KNM said

--------------------------------------

OMGOMGOMG~~ KNM BIG news !!!!!~~~ tomorrow KNM will hit 0.90 in no time!!!!!!  KNM's CNY ang pow ?

Congrats to anyone who bought KNM Below 0.90!!!!!  anyone bought today will auto untung 15cents... wahhhhh
No chance to goreng already... will probably open 0.895 cents tomorrow morning...

i got 60 lots of KNM! hooray!

congrats to KNM holders!!

Will Trichet save Greece, Spain, Portugal, Ireland, Italy?
To be determined at 9:30 pm...

Somehow I feel taking private KNM at 0.90 is cheap. Sigh.

simple, if you got a golden goose, will you share with others?
Maxis was asked to list.
Taking a company private enable the owner do whatever he wants without the need of approval from public shareholder.
Like Sarawak Energy... Now, the owner can do many "things" without the need to get approval from public. 

---

Added on February 4, 2010, 9:22 pmI'm not sure why Adam Tai kor keep talk about this counter... Maybe he got insider news.
Adam Tai Kor! Mind to share what you know about this counter? Or mainly based on TA analysis?

BNM raising rate??

I dont think so...................!!!!!!!!

BREAKING NEWS!

U.S. jobless claims highest since mid-Dec

I am holding few of it but at quite high price... If throw now rugi teruk... What is your advice ya???

---

Added on February 5, 2010, 1:49 pm
I am holding few of it but at quite high price... If throw now rugi teruk... What is your advice ya???

rambutan fans.. relax~~~  tanjong can go up/down 56cents one... lower means chance to buy! i want 2 more kilo at 14! 

wahh seriously... XDL scared me a bit just now.... touching 0.475... lucky close 0.485.... 

I agreed with you 2.  If I have bought, I would have take profit liao... 

Anyone knows the T-O column right of close price for Jupiter platform? What does it denote? 

yeah.... as long as Europe hasnt sorted out Greece stuff.... any rally can be a trap...

Finally USA, then doom..................

How is your Sapcres going? I let go already. Think cannot tahan another 1 month for the Q report. Even Latexx reporting good profit also lao sai, I think market is very bearish.

David, don't mind could you tell me what is the supposedly Kencana price ex-bonus based on last pre-bonus price?

checking out from supermax for the time being.

will come back after CNY

So, I'm the only one left on the boat... 

if there's a special divvy for GenM, I think we can roughly find out how much divvy base on GenM's closing price today. (just like what happened to CSC steel's price)
Now, maybe the people in the accounting side with their friends and relatives buying in.
Just a hunch, otherwise ignore.