‘Very clever’; ‘lost confidence’: Shareholders react to OCBC’s latest exit offer for Great Eastern

[SINGAPORE] OCBC on Friday (Jun 6) made a conditional exit offer at S$30.15 per share for the 6.28 per cent stake in Great Eastern it does not own, in a bid to delist the insurer.

The offer, which OCBC said was made “at the request of Great Eastern”, was deemed “fair and reasonable” by the independent financial adviser (IFA) to the deal.

The offer comes more than a year after OCBC first made a privatisation bid for Great Eastern through a voluntary unconditional general offer at S$25.60 per share.