Temasek's offer for Sembmarine turns unconditional

THE mandatory general offer by Temasek for Sembcorp Marine (Sembmarine) has turned unconditional after the total shares it owns, controls or agreed to be acquired have crossed the 50 per cent threshold.

In a bourse filing on Tuesday (Nov 2) before the market open, Temasek revealed that it has garnered acceptances equalling to 4 per cent of Sembmarine's total shares. This brings the shares the state investor owns, controls or agreed to be acquired to 50.6 per cent of Sembmarine's total shares.

The remaining shareholders have until 5.30 pm on Nov 3 to accept the offer, and will not be able to do so after that. Temasek reiterates that the offer will not be extended beyond the closing date.

Shares of Sembcorp Marine closed flat at S$0.079 on Monday, below the S$0.08 offer price.

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