New OCBC offer for Great Eastern more attractive but fate lies in hands of significant minority shareholders: analysts

[SINGAPORE] OCBC’s latest exit offer for Great Eastern is more attractive than its initial privatisation bid, but it still remains to be seen if the insurer will be delisted, given that the decision likely lies in the hands of a few significant shareholders, analysts said.

OCBC on Friday (Jun 6), at the request of the insurer, made a S$900 million conditional exit offer at S$30.15 per share for the 6.28 per cent stake in Great Eastern it does not own.

EY, the independent financial adviser (IFA) to the deal, said this offer is “fair and reasonable”.