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Oxley blocks UE's bid to buy WBL shares from Yanlord Perennial

Majority of Oxley board members say no following an independent evaluation of the deal

Singapore

IN a surprise turn of events, minority shareholders of United Engineers (UE), including property developer Oxley Holdings, have foiled a bid by UE's new shareholder, Yanlord Perennial Investment (YPI), and UE's former shareholder OCBC to sell their WBL shares to UE.

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