KUALA LUMPUR: LPI Capital Bhd today announced that it has received a notice of conditional mandatory take over offer from the estate of the late Tan Sri  Teh Hong Piow and Consolidated Teh Holdings Sdn Bhd, for the shares they do not own in the company, at RM9.80 a piece.

An offer will be no later than 21 days of the notice given today.

The offer represents a 34 per cent discount to the company's last traded price of RM13.14 a share, valuing it at RM5.2 billion.

The notice of offer was made after the two parties completed the purchase of a 44.15 per cent stake in LPI Capital for RM1.72 billion, triggering the mandatory general offer requirement.

The notice stated that the offer by the Teh-family linked companies is conditional upon them receiving acceptances which bring up their holdings in the company to at least 50 per cent.

The offerors plan to maintain the listing of LPI Capital.