SMRT privatisation offer fair and reasonable: IFA, IDs

THE independent directors (IDs) of SMRT Corporation have unanimously recommended that minority shareholders vote in favour of Temasek Holdings' offer to take SMRT Corporation private through a scheme of arrangement.

They concur with independent financial adviser (IFA) Rothschild (Singapore)'s opinion that the offer - made through the Singapore investment company's wholly owned subsidiary Belford Investmens - is fair and reasonable from a financial standpoint.

Minority shareholders can choose to sell their shares in the open market if they are able to obtain a price higher than the scheme price of S$1.68 a share, after taking into consideration related transaction expenses.