SPH open to considering all offers that are better than Keppel's: CEO
Add BT as a preferred sourceClaudia Tan HS
WHILE Keppel Corp’s BN4 final offer of S$2.351 per share is currently the best on the table, the door is not closed for Singapore Press Holdings (SPH) T3 9 t o consider superior offers, said chief executive officer Ng Yat Chung in a briefing on Wednesday (Nov 10).
In the event that there is a better offer, Ng said the SPH board would go into the upcoming scheme meeting with the appropriate recommendations and would not be obligated to recommend Keppel's offer.
As part of the agreement with Keppel, SPH will hold a scheme meeting by Dec 8 to give shareholders the chance to vote on Keppel's offer. SPH, which publishes The Business Times, is also permitted to enter into another agreement by Nov 16 with any other party that wishes to offer a competing scheme.
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