For shareholders of both Keppel Corporation Limited (SGX: BN4) and Sembcorp Marine Limited (SGX: S51), or SMM, the wait is finally over. On 27 October, both companies hammered out a revised deal to simplify the transaction structure for a proposed merger of SMM with Keppel’s Offshore and Marine (O&M) division. It was exactly six months since a proposed combination was announced by the two offshore oil rig giants, and more than 15 months since the idea of a potential combination was mooted. By amending the transaction, the approval and consent requirements have also decreased and the plan is to reduce the time to completion by up to two months. Assuming all goes well, the revised merger is projected to be consummated by either December this year or January next year. Here are five things investors need to know about the revised deal structure. 1. From a merger to an acquisition Before this revision, the transaction between...