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KepCorp offer: Shift in vested powers between board, shareholders?

IN the letter "Shareholder nod not needed in Keppel Corp bid: SGX" (BT, Jan 31), Singapore Exchange clarified that it has not granted any rule exemption for Keppel Corporation Limited (KCL) to acquire the shares in Keppel Land Limited (KLL) that it does not already own.

In KCL's offer