SINGAPORE - Shares of Keppel Corp sank over 4 per cent on Monday morning , amid a broad market decline on the Singapore bourse.
Temasek Holdings said over the weekend that it will decide by end-August whether to invoke the material adverse change clause in its $4 billion pre-conditional partial offer for Keppel. Last October, Temasek, which already owns about one-fifth of Keppel, offered to buy an additional 30.6 per cent stake at $7.35 per share in cash.
The partial offer is subject to the satisfaction and/or waiver of a number of pre-conditions, including there being no MAC in Keppel group's financial performance and condition.
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Hot stock: Keppel sheds over 4% in early trade on uncertainty over Temasek offerSHARES of Keppel Corp sank over 4 per cent in early trade on Monday, amid a broad market decline on the Singapore bourse. Read more at The Business Times.
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