Keppel Corporation‘s (SGX: BN4) share price plunged to a low of S$4.71 today, down 13% from last week’s close of S$5.40. The knee-jerk reaction came after Kyanite Investment Holdings, Temasek‘s wholly-owned subsidiary, updated yesterday that it will not be proceeding with its bid for the conglomerate (more on the bid in our original article reproduced below). For the partial buyout offer to proceed, a number of pre-conditions had to be satisfied. One of them was that Keppel Corporation’s profit after tax must not fall by more than 20% from S$696 million over the next four quarters including the third quarter ended September 2019. However, that condition could not be met. For Keppel Corporation’s 2020 second-quarter, it posted a profit after tax of negative S$698.8 million, reversing from a profit of S$153.1 million one year back. Keppel Corporation’s cumulative profit after tax for the 12 months before 30 June 2020 (inclusive), was a negative S$164.7 million....