After the submission of the proposal to BNM. It make sense for both to create values because of each other weakness. After the merger, both will be able to offer more products to the market especially the Islamic section.
Price at RM 58 cents is a steal. Perhaps the only reason the price struck is because of huge holding of EPF. I still think the best is to take it private at book value. Option for share holder to be remained in new share. Realize the value of a universal Islamic bank going forward.