[Please note that it is the press conference and not the proposed merger that is being postponed].
[p.s. To avoid a bloodbath at the stock market tomorrow, NSTP may inform the Bursa that they are trying to finalize details of the merger and, therefore, would need the suspension of their counters since last Friday to be extended].
Non-disclosure agreement. In separate joint statements, according to Bernama here, NSTP and Utusan Melayu told Bursa Malaysia that:
1/they haven't reached an agreement on the merger
2/they want to continue to explore the merger possibility and
3/they'll inform the Bursa should a final agreement materialize.
In the meantime, the two parties have signed a non-disclosure agreement. They have also decided to continue suspending their counters.
"Pursuant to excessive speculation in the stock market, the boards of both companies decided to suspend the trading of the stocks to enable both parties to commence negotiation on the terms of the cooperation," they said.There won't be a bloodbath tomorrow.