9:51 PMBloomberg Markets
NexG Slumps After Malaysia Rules Out $1.9 Billion Unit Buyout
Summary
Malaysia’s government has ruled out a potential $1.9 billion acquisition of Datasonic Technologies, the company that supplies the country’s passports and national identity cards.
The decision removes a possible state-backed exit for Datasonic and leaves the company’s ownership structure
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The decision blocks a major deal involving a strategically important government supplier and resets expectations for Datasonic’s valuation and ownership.