KUALA LUMPUR: Independent adviser DWA Advisory Sdn Bhd has urged furniture manufacturer Euro Holdings Bhd???s minority shareholders to reject the takeover offer by its three major shareholders.

DWA said the 44-sen-per-share offer is ???not fair??? as it is below market price and does not reflect the fair value of Euro Holdings shares vis-a-vis its realised net asset value.

???The trading of Euro Holdings shares had been relatively liquid for the past 12 months and the joint offerers have indicated their intention to maintain the listing status of the company,??? DWA said yesterday.