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Impairment for Keppel unit Floatel clouds fate of Temasek's offer

Pre-condition for offer states, among others, that "provisions for proceedings" involving any member of the group should not exceed S$500m

IT will be months before Keppel Corp shareholders can celebrate Temasek Holdings' proposed partial bid for control over the infrastructure and property conglomerate. Meanwhile, two recent developments ought to wake the market up from its reverie that this is a come-rain-or-shine offer.

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