KUALA LUMPUR: Manufacturer and supplier of agricultural and industrial chemicals Ancom Bhd’s proposed acquisition of all the assets and liabilities of Nylex (M) Bhd has been accepted by the board of directors of Nylex.

       Ancom Bhd group chief executive officer Lee Cheun Wei said the next step would be to obtain approval by the respective listed company’s shareholders at EGMs to be convened.

       “We regard this a win-win exercise, as Nylex’s shareholders would receive part cash as well as part Ancom shares via a capital reduction and repayment exercise upon completion of the proposed acquisition, thereby allowing them to continue participating in the growth of the enlarged group, ” he added.