SIA's takeover bid for Tiger: 77.48% shareholding in the bag now

SINGAPORE Airlines (SIA), which on Monday raised its offer price for Tiger Airways, garnered acceptances amounting to 21.72 per cent of the budget carrier as at 5pm the same day.

Including the 55.76 per cent the group and its concert parties had controlled at the start, this brings the total number of Tiger shares that SIA has garnered to 77.48 per cent.

The deal is conditional on SIA holding more than 90 per cent of Tiger at the close of the offer.

On Monday, SIA upped its offer price from S$0.41 to S$0.45 a share, and stressed that this will be the final offer to shareholders. The closing date for the offer has also been extended to Jan 22, 2016, at 5.30pm.