UEL's cash offer for WBL a 'cautious, risk-management approach'
UE offers to pay S$2.07 per share for the WBL shares it does not already own; report says deal is positive and will up valuations
Singapore
BY using United Engineers (UE) to make a cash offer for WBL, the Yanlord Perennial consortium which took control of UE and bought a small stake in WBL in July appears to be taking a more cautious approach to its recent investment.
Smartkarma insight provider Foo Sze Ming wrote in a note on Friday: "This transaction is not exactly the outcome that we have previously envisaged. It appears that Yanlord Perennial Investment (YPI) has chosen to take a more cautious, risk-management approach towards its UEL investment."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama