Maybank cancel to buy BII

Maybank's statement on Tuesday, Bank Negara Malaysia revoked its approval to Malayan Banking Berhad's plan (Maybank) to acquire all BII shares worth US$2.7 billion.
Maybank revealed the US$147 million worth of deposit contributed in March in relation to BII shares acquisition would be lost if the transaction failed. Maybank continued that it would not require approval from Bank Negara to reimburse the deposit.
The Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) No. IX. H. 1 on Acquisition of Publicly Listed Companies is potential to create losses for Maybank.
Maybank acquired a 56% stake in BII from a Temasek-led corporate group for US$1.5 billion or IDR510 per share. Maybank also plans to do tender offer for the remaining BII's public-owned shares worth US$1.2 billion.