SIA makes offer for Tiger unconditional

Closing date extended to Feb 5; group says it can't hike final offer price any higher

Nisha Ramchandani

Published Mon, Jan 11, 2016 · 09:50 PM

Singapore

SINGAPORE Airlines (SIA) has made its S$0.45-per-share takeover offer for Tiger Airways unconditional, while SIA's stake in the budget carrier currently remains under the 80 per cent threshold, according to filings to the Singapore Exchange (SGX).

The airline group has again extended the offer closing date from Jan 22 to Feb 5, but stressed on Monday that it is unable to hike its final offer price any higher, in line with the Singapore Code on Takeovers and Mergers.

SIA had originally said that the offer was conditional upon it reaching a stake of over 90 per cent. Those that previously accepted the earlier deal have eight days from Monday's announcement to withdraw their acceptance, …

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