Shares & Derivatives
Temasek drops Keppel privatization offer – 3 quick thoughts on what happens next
By Financial Horse  •  August 10, 2020
So literally the day after National Day, Temasek dropped this bombshell of a news: They will not be proceeding with the privatization / partial offer of Keppel Corp. It’s a pretty big deal with knock on implications for the rest of Singapore’s stock market, so I wanted to share some quick thoughts.

Basics: Temasek makes S$4.1 billion bid to take control of Keppel Corp

But first, the background. In October 2019, Temasek launched a S$4.1 billion bid to take control of Keppel Corp. Before this, Temasek already owned 20.5% of Keppel Corp. If the takeover is successful, Keppel would hold 51% of Keppel Corp. This majority stake would given them lots of control over the future direction of Keppel Corp. The offer was for S$7.35 in cash for each Keppel share, which is a premium of nearly 26% over the then last traded price of S$5.84. Of course, the rumour mill went into overdrive, and the prevailing thinking was that after Temasek...
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By Financial Horse
Financial Horse was founded with a simple goal – To provide high quality financial commentary, in plain English. He is a firm believer in Einstein’s quote that “If you can’t explain it to six-year-old, you don’t understand it yourself.” Too much of finance is shrouded in complex jargon, and Financial Horse aims to demystify financial investments.
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