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TIH takeover - not all deals are created equal
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Anita Gabriel
Published Mon, Jan 15, 2018 · 09:50 PM
DeeperDive is a beta AI feature. Refer to full articles for the facts.
"WHAT's good for the goose is not always good for the gander" pops into mind in the takeover bid for Singapore-listed TIH by Indonesian tycoon Stephen Riady and in part, led by TIH chairman Kin Chan of Hong Kong hedge fund Argyle Street Management. So, when a market watcher hollered "Cheapskates!" when asked to comment on the offer just as it was unveiled exactly a week ago, that may not be quite the whole story.
The part-cash, mostly-bonds offer for the only such closed-end fund listed on Singapore's mainboard is in truth, a 'private' arrangement turned public due purely to regulatory compulsion.
Let's unpack it first.
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