Temasek's unit says there will be no increase in SMRT offer price
TEMASEK Holdings unit Belford Investments said it does not intend to increase the buyout offer for SMRT Corp of S$1.68 a share.
In a joint announcement together with SMRT on the Singapore Exchange, the companies said they have received some queries on the scheme price and that there will be no increase on the price.
On Wednesday, it was announced that the takeover deal of SMRT is structured via a scheme of arrangement.
Upon the scheme becoming effective and binding, each of the scheme shareholders as at the books closure date will be entitled to receive the scheme price of S$1.68 in cash per share as at the books closure date, in consideration for the transfer of the shares to the offeror.
SMRT shares finished at S$1.645, up 10 Singapore cents or 6.5 per cent, on Thursday.
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
Binance founder Zhao Changpeng gets four months in prison
Apple set for big sales decline as investors await AI in iPhones
Microsoft, Brookfield to partner on renewable energy projects
UK house prices fall again after mortgage rates creep higher
Why the yen is so weak and what that means for Japan
UAE's top bank FAB beats Q1 profit estimates