A different spirit of the law in OSIM takeover
YOU own some shares in a company. The founder wants to buy everybody out. You resist, claiming his price is too low.
But you cannot do much if the founder happens to also own such a big chunk of the company that he could - if he is able to quickly gather enough shareholders' acceptances - legally enforce compulsory acquisition at his bid price.
Is this unfair? The OSIM privatisation saga has dragged up a recurring issue in Singapore corporate law on how much power should be given to dissenting minority shareholders in a takeover.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher
Air China orders homegrown C919s in challenge to jet duopoly
HCA beats first-quarter profit estimates on higher patient admissions