Maybank.. a laughing stock?

National bank in Malaysia, Maybank buying Bank of International Indonesia (BII)... a news that caused maybank stock price to plunge since the news starts spreading through insider to investors... What logic would it be that when all other banks have withdrawn their bid but Maybank still pays more than 4.5 times book value of BII??... Is there any reason behind this transaction that public(tax payers) is not aware of?

First of all, in the short run (3-5 years) Maybank will reap nothing but continue to pump in cash into this blood sucker in the first few years... having paid so much to Temasek (~RM2.63bil)... what does Maybank stands to get in return? this is an insult to Malaysian if the management of Maybank were to say that BII is worth that much.... even the attempt of buying Public bank at 4.5 times its book value deserve grave consideration....

The way I look at this, it's nothing but a "negotiated" move... someone has gotten their shares so it's just paying what they have taken.... from business point of view, it's a lousy move... if they do their homework, this is definitely not an option to go.... pure stupidity from business standpoint.