SMRT shareholders will be voting on Temasek Holdings’ proposed buyout of the public transport company this Thursday – 29 September.
Based on the poll I started in July, a whopping 65% feels that the offer price of $1.68 is unfair. For the privatisation to be approved, more than 50 per cent of the total number of shareholders – who hold at least 75 per cent of the shares held – must vote in favour. This excludes shares held by Temasek, which is not eligible to vote.
The poll is by no means an accurate assessment as it is not restricted to SMRT shareholders only. It will be interesting to see how things pan out on Thursday.