Shares & Derivatives
Bidding war for SPH – Keppel increases buyout offer to $2.351 : 3 Key Takeaways!
By Financial Horse  •  November 10, 2021
What a difference a year makes! In that time, SPH has gone from unloved media stock, to the hottest thing since sliced bread. What is going on? Bidding war for Singapore Press Holdings (SPH)? For those of you who are new to this saga, a quick recap:
  • May 2021– SPH announced a big restructuring, to spin off their media company at a cost of $110 million (you may remember this as the “Umbrage” event)
  • August 2021 – Keppel offers to buyout SPHfor $3.4 billion, or $2.099 per share. This is payable with a mix of cash, Keppel REIT units and SPH REIT units.
  • October 2021 – A rival consortiumswoops in with a $2.10 all cash offer for SPH. This consortium is made up of:
    • 40% – Hotel Properties Limited / Ong Beng Seng (Majority Shareholder of HPL)
    • 30% – CLA Real Estate Holdings (Temasek Owned but independently managed)
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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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