Keppel sees selloff after Temasek walks away from deal
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Singapore
KEPPEL Corp shares were dragged down on Tuesday as investors were on edge after the surprise announcement that Temasek Holdings has scrapped its S$4 billion partial offer for the conglomerate.
Within the first minute of the opening bell, Keppel sank nearly 13 per cent or S$0.69 to a low of S$4.71. It clawed back some losses to finish at S$4.80, down 11.1 per cent or S$0.60 from Friday. This is the counter's weakest close in more than four years - the last time it ended trading below this level was in February 2016, according to Shareinvestor data.
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