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KepCorp fails to hit compulsory acquisition threshold

It bags 95.1% of KepLand as at March 31 despite extending closing date

Published Tue, Mar 31, 2015 · 09:50 PM

Singapore

THE verdict is out: Keppel Corp has failed to hit the compulsory acquisition threshold required for the higher offer price of S$4.60 per share to kick in for its Keppel Land buyout.

This came as a surprise to the market, which had been confident the 95.5 per cent threshold would be reached, especially with the second offer extension.

The offer has been open for 47 days. Late on Tuesday evening, joint financial advisers DBS and Credit Suisse release…

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