# Bayan Resources acquisition rumors

> Live situation record from CLSTR: https://clstr.news/situations/bayan-resources-acquisition-rumors
> Updated: 2026-09-09T09:42:55.000Z. Sources: 4. Developments: 2.

Speculation regarding a potential takeover of PT Bayan Resources Tbk (BYAN) has caused significant volatility in the company’s stock price. Market rumors suggested that businessman Andi Syamsuddin Arsyad, known as Haji Isam, was negotiating to acquire a 62.2 percent stake currently held by Low Tuck Kwong and Elaine Low. Reports indicated a possible cash offer of approximately US$3 billion, which would represent a discount of over 80 percent from recent market valuations.

In response to the rumors, Bayan Resources issued a formal disclosure stating that management was unaware of any specific takeover plans or transactions involving Haji Isam or his affiliates. Despite this denial, the stock experienced extreme fluctuations, including a 44 percent surge followed by a 23 percent drop over a 15-day period. Indonesian Audit Watch (IAW) has called for transparency and rigorous oversight to ensure market stability and legal compliance during such periods of speculation.

## Timeline

### 2026-09-09: Bayan Resources shares drop amid acquisition rumors

Shares of PT Bayan Resources Tbk have dropped 23% amid rumors that Andi Syamsuddin Arsyad is negotiating to acquire a 62.2% stake from Low Tuck Kwong at a significant discount.

2 sources. https://clstr.news/cluster/bayan-resources-shares-drop-amid-acquisition-rumors

### 2026-08-23: Bayan Resources denies rumors of 62.2 percent share acquisition

Bayan Resources has denied rumors of a 62.2 percent share acquisition by businessman Haji Isam, while Indonesian Audit Watch calls for transparency and strict regulatory oversight.

2 sources. https://clstr.news/cluster/bayan-resources-denies-rumors-of-622-percent-share-acquisition

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Cite as: Bayan Resources acquisition rumors. CLSTR, https://clstr.news/situations/bayan-resources-acquisition-rumors