By Ian Walker

LONDON--Kuala Lumpur Kepong Bhd (2445.KU) Tuesday raised its offer for M.P. Evans Group PLC (MPE.LN) by 16% to 415.4 million pounds ($516.3 million), but said this is final and won't be increased.

The Malaysian plantation company is now offering 740 pence a share for the U.K.-listed company. It said synergizing the two companies operations should establish best practices for the further growth of both and enable the enlarged group to capitalize on economies of scale in the oil palm sector.

Kuala Lumpur previously offered 640 pence a share, which was rejected by MP Evans.

-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

November 15, 2016 05:30 ET (10:30 GMT)

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