SIC says Keppel's 8-week restriction on SPH shall be 'disregarded'
Ruling could pave way for SPH to hold a meeting to vote on offers from Keppel and Cuscaden on same day
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Singapore
THE Securities Industry Council (SIC) has thrown out a clause in Keppel Corp's offer that restricts Singapore Press Holdings (SPH) from holding a scheme meeting for a rival offer within 8 weeks from the Keppel scheme meeting.
The move by SIC marks the latest development in a keen takeover battle for SPH by Keppel and Cuscaden Peak, a consortium comprising Hotel Properties (HPL), businessman Ong Beng Seng, and two Temasek-linked entities, CLA and Mapletree.
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