BT Explains: Why SPH shareholders who want Cuscaden's offer need to vote at both scheme meetings

THE battle to take control of Singapore Press Holdings (SPH) has heated up this month, with the key offerors interested in the company raising the stakes in their revised offers for the group.

On Monday (Nov 15), the consortium comprising Hotel Properties (HPL), businessman Ong Beng Seng, and two Temasek-linked entities, CLA and Mapletree raised its offer for SPH by giving shareholders the option of an all-cash offer of S$2.36, or S$2.40 per share comprising S$1.602 cash and 0.782 of an SPH Reit unit through a distribution-in-specie by SPH.

SPH has said that this consideration is a superior offer to Keppel Corp's revised final offer - which is S$2.351 per share, consisting of S$0.868 per share in cash, 0.596 of a Keppel Reit unit and 0.782 of an SPH Reit unit - made last week.