Here are some interesting updates for you to digest over the weekend.
Keppel Corporation Limited (SGX: BN4)
In the ongoing tussle for Singapore Press Holdings Ltd (SGX: T39), or SPH, we wrote about Cuscaden Peak’s counter-offer for the media company last week.
This offer was in response to Keppel Corporation Limited’s higher offer for SPH.
But the oil and gas conglomerate is not budging in the bidding war.
Keppel is standing firm and has not raised its offer price further.
The company has reiterated that SPH shareholders should vote for the deal as they will own shares in two REITs — SPH REIT (SGX: SK6U) and Keppel REIT (SGX: K71U).
To sweeten its argument, Keppel highlights that SPH shareholders who receive the REIT units will enjoy accrued distributions that will amount to around S$0.03 more per SPH share, effectively valuing Keppel’s offer at S$2.381, slightly higher than the S$2.36 cash offer by Cuscaden Peak....