Great Eastern offer: It’s time for everyone to move on
Both the bank and the insurer are facing pressing business and operational challenges, so it’s time for them to address business at hand
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IT WAS undeniably an attractive offer of S$30.15 that OCBC was making for each share in Great Eastern. Even the independent financial adviser called it “fair and reasonable” – compared to the “not fair but reasonable” billing for the S$25.60 offer in May last year.
But a delisting vote needed to pass before the offer would be paid out.
Close to 30 million Great Eastern shares were not held by OCBC. Three quarters of those shares needed to be cast in favour of delisting.
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