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Financial adviser affirms UIC's offer for Singapore Land shares are fair, reasonable

Published on Apr 6, 2014 6:03 PM

The independent financial adviser to SingLand's independent director has stood by its assessment of a general offer for the company made by its parent United Industrial Corp (UIC).

UIC's offer of $9.40 per share for SingLand is still fair and reasonable from a financial point of view, ANZ said last Friday.

It said this in response to a query from the Singapore Exchange (SGX) on its evaluation of the offer.

SingLand's second-largest shareholder Silchester International Investors, which had held 8.16 per cent of SingLand shares, said last Monday that UIC's offer was too low.

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