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Keppel's revised offer for SPH comes with deal certainty
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Keppel has insisted that its revised offer for Singapore Press Holdings is final and will not be further increased.
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SINGAPORE - Barely two weeks after the Cuscaden Peak consortium, led by hotelier Ong Beng Seng, made its surprise competing all-cash offer of $2.10 per share for Singapore Press Holdings (SPH), Keppel Corporation has upped the ante with a 12 per premium to its earlier offer of $2.099 per share.
At $2.351 per share, the revised offer includes additional cash of 20 cents a share. And, while the number of Keppel Reit and SPH Reit units remains the same under the revised offer, their cumulative value has increased by 5.2 cents a share with improving market conditions.
