Financial Services Company SAOG (MSM:FSCI) made an offer to acquire Gulf Baader Capital Markets S.A.O.C. from Gulf Investment Services Holding Company SAOG (MSM:GISI) and others on October 16, 2018. The Board of Gulf Baader Capital Markets will review the proposal and take decision on the same. The transaction is subject to obtaining final approvals from the respective boards of directors, shareholders and regulators. On October 29, 2018, the Board of Directors of Gulf Baader Capital Markets declined the merger offer. Financial Services Company SAOG (MSM:FSCI) cancelled the acquisition of Gulf Baader Capital Markets S.A.O.C. from Gulf Investment Services Holding Company SAOG (MSM:GISI) and others on October 29, 2018.