Premature to bet on a merger of Singapore's leading yard groups
A BROKER report reviving the merger talk between Singapore's two large yard groups has triggered spikes in trading volumes mainly for Keppel Corporation and the listed marine arm of Sembcorp Industries.
DBS Vickers suggested in a research note on Thursday last week that the possibility of a merger and acquisition between the marine arms of Keppel Corp and Sembcorp Industries has resurfaced, prompted by the prevailing challenges in the offshore and marine sector. The brokerage argued for the merger of Keppel Offshore & Marine (Keppel O&M) and Sembcorp Marine to create "a global power house".
Stock prices in Keppel Corp and Sembcorp Marine (SembMarine) jumped the next day and trading ac…
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Deutsche Bank has cut dozens in Asia private banking overhaul
Middle East violence heightens market fears of rate hikes, inflation
Tokyo's Nikkei drops more than 1,000 points, most in 3 years
Cordlife calls for trading halt after shares sink to all-time low, pending announcement
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece
Inside TSMC chairman Mark Liu's short but impactful reign