Shares & Derivatives
Temasek Backs ST Engineering’s US$2.7 billion TransCore Acquisition: Here’s 5 Reasons Why
By The Smart Investor  •  October 5, 2021
Over the weekend, Singapore Technologies Engineering Ltd (SGX: S63), or STE, announced the acquisition of TransCore, an indirect wholly-owned subsidiary of Roper Technologies Inc (NYSE: ROP) for US$2.68 billion. Major STE shareholder Temasek Holdings has indicated that it will vote in favour of this transaction. The engineering conglomerate has undoubtedly been one of the more resilient blue-chip stocks during the recent downturn. In fact, STE has seen its order book climbing steadily since the end of 2019 and has also kept its annual dividend unchanged at S$0.15 per share over the last five financial years. This acquisition comes after a failed bid by the group to acquire Cubic Corporation back in March this year. The company’s last acquisition was two years ago, where it bought Newtec, a satellite communication company, for EUR 250 million. STE’s share price has surged to a seven-week high of S$3.88 on the news. Investors should...
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By The Smart Investor
The Smart Investor is co-founded by David Kuo, Joanna Sng, and Chin Hui Leong. The company was formed in late 2019 from the ashes of the Motley Fool Singapore. The Smart Investor believes that everybody can learn how to invest, smartly. We aim to educate people on how to invest smartly by providing investing education, stock commentary and market coverage for Singapore and around the world.
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