The Business Times
business-time-50
SUBSCRIBERS

Proxy adviser Glass Lewis recommends Sats shareholders approve WFS acquisition

google-preferred-sourceAdd BT as a preferred source
Yong Jun Yuan

Yong Jun Yuan

Published Tue, Jan 10, 2023 · 11:52 PM
    • Glass Lewis says Sats has access to other funding sources to fully fund the proposed transaction, including the acquisition bridge facility of S$1.7 billion.
    • Glass Lewis says Sats has access to other funding sources to fully fund the proposed transaction, including the acquisition bridge facility of S$1.7 billion. PHOTO: BT FILE

    PROXY advisory firm Glass Lewis said in a report published last Friday (Jan 6) that it believes the strategic and financial rationale for Sats ’ acquisition of WFS is “largely sound”, and that it recommends Sats shareholders approve the deal.

    In its report on the deal, the firm noted that the move to acquire WFS could give Sats positions in strategic hubs that connect key trade lanes across North America and Europe, which will complement the company’s current presence in the Asia-Pacific region.

    “The deal should provide the company with enhanced scale, expanded geographic reach and greater business diversification,” the firm said.

    SATSM&AAviation

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    Electric vehicles and the changed dynamics of mainstream and luxury car segments mean Certificates of Entitlement should not be used to classify cars.

    Is it time to scrap COE categories for cars? 

    Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

    Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

    Indonesian President Prabowo Subianto and Russian President Vladimir Putin met at the Kremlin in Moscow on April 13.

    As more Asean states turn to Russia for fuel, will Moscow boost its influence in the region?

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More