Keppel Corp has sweetened its offer to take Singapore Press Holdings (SPH) private with a final offer of S$2.351 per share that includes cash of S$0.868 per share, an increase of S$0.20 per share. Besides cash, SPH shareholders will receive 0.596 Keppel REIT units valued at S$0.685 per share and 0.782 SPH REIT units valued at S$0.798 per share, as of November 10. The revised offer comes after a consortium led by Hotel Properties, its founder Ong Beng Seng, Mapletree and CLA Real Estate Holdings made a counter offer to Keppel’s previous offer in late October of S$2.10 per share in cash, a tad higher to Keppel’s previous offer of S$2.099 per share. In the revised offer, Keppel said that the offer is “firm and irrevocable” with approvals taken from the MAS and the FIRB of Australia.
SPH’s SGD 4% Perp traded 0.04 points higher to 99.96 and SPH REIT’s SGD 4.1% Perp traded stable at 100.80. Keppel Corp’s SGD 2.9% Perp traded 0.08 points lower to 98.98 while Keppel REIT’s SGD 3.15% Perp traded 0.03 points lower to 98.28.
For the full story, click here
