Singapore

SINGAPORE Airlines (SIA) has extended the offer period for its takeover bid for Tiger Airways from Dec 28 to Jan 8, after the Securities Investors Association Singapore (SIAS) called for both an extension and a higher offer price.

On Dec18, SIAS chief David Gerald wrote a letter to SIA's board, urging a two-week extension to the close of the offer in light of the holiday period. He also lobbied the board to consider revising the offer upwards, noting that some of Tiger's long-term minority shareholders are unhappy with the offer price.