Blackstone's S$900 million offer for Croesus seen as attractive
Private equity firm is offering S$1.17 per unit via a trust scheme, which is at a 38% premium to 12-month volume-weighted average price
Add BT as a preferred source
Singapore
UNITS of Japanese mall owner Croesus Retail Trust (CRT) soared past Blackstone's offer price to hit a record high after the US private equity firm made an offer for all the units in CRT.
The trust added 12 cents or 11.4 per cent to close at S$1.175, with 45.2 million units traded, making it the third most active counter on the market. This is significant for a counter with low trading liquidity usually.
TRENDING NOW
Rise and fall of Situational Awareness: How Leopold Aschenbrenner’s AI fund stumbled
From Yaohan and Galeries to Metro: The rise and fall of department stores in Singapore
More office buildings lined up for sale ahead of impending Marina One deal
UOB CEO’s youngest child Grant Wee turns burnout into a wellness business
