SINGAPORE – Just as Singapore Press Holding (SPH) was readying to put out the $3.4 billion cash-plus-shares offer from Keppel Corporation to its shareholders at its upcoming EGM, onto the scene comes businessman Ong Beng Seng together with two Temasek-linked entities, with an all-cash offer of $2.10 for the property group.
In a surprise early morning announcement, Cuscaden Peak – a consortium comprising a unit of Mr Ong’s Hotel Properties, a unit of Mapletree group and the majority shareholder of Capitaland – announced it had submitted an all-cash offer for SPH via a scheme of arrangement.
Please subscribe or log in to continue reading the full article.
Get unlimited access to all stories at $0.99/month
- Latest headlines and exclusive stories
- In-depth analyses and award-winning multimedia content
- Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*
*Terms and conditions apply.