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Siakhwang
2021-11-16

Interesting. Bidding war for the properties under SPH

Cuscaden Peak Raises Offer For Singapore Press Holdings

Cuscaden Peak Pte.raised its offer for Singapore Press Holdings Ltd., giving the consortium the uppe

Cuscaden Peak Raises Offer For Singapore Press Holdings

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Bidding war for the properties under SPH","highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/871307475","repostId":1136863491,"repostType":4,"repost":{"id":"1136863491","kind":"news","pubTimestamp":1636943148,"share":"https://www.laohu8.com/m/news/1136863491?lang=&edition=full","pubTime":"2021-11-15 10:25","market":"sg","language":"en","title":"Cuscaden Peak Raises Offer For Singapore Press Holdings","url":"https://stock-news.laohu8.com/highlight/detail?id=1136863491","media":"Bloomberg","summary":"Cuscaden Peak Pte.raised its offer for Singapore Press Holdings Ltd., giving the consortium the uppe","content":"<p>Cuscaden Peak Pte.raised its offer for&nbsp;Singapore Press Holdings Ltd., giving the consortium the upper hand in a bidding tussle to acquire the company’s property assets.</p>\n<p>The&nbsp;agreement&nbsp;provides SPH shareholders with either a total consideration of S$2.40 per share, comprising a mix of SPH REIT units and cash, or an all cash offer of S$2.36 apiece, according to a statement from both firms. The offer values SPH at S$3.9 billion ($2.9 billion), trumping&nbsp;a bid last weekfromKeppel Corp.</p>\n<p>SPH said the Cuscaden offer is “superior” and its independent directors in a preliminary recommendation advised shareholders to vote in favor of the bid.</p>\n<p>The offer is another escalation in the takeover battle for the company’s assets. Cuscaden -- a consortium which also includes units backed by investment giant Temasek, in addition to Mapletree Investments Pte. and a company tied to Singapore property tycoon Ong Beng Seng -- has been competing with Keppel to acquire SPH’s assets.</p>\n<p>Keppel had offered S$2.351 per share in a “final” offer last week.</p>\n<p><img src=\"https://static.tigerbbs.com/02080347f2d7a344ff7df4af1415bce8\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>The&nbsp;restructuring&nbsp;of the media business, which includes the Straits Times newspaper, was approved in September and is expected to be completed in December.</p>\n<p>The Cuscaden offer of S$2.40 implies 3% upside from the last closing price. Trading of Singapore Press Holdings’ shares and those of its real estate investment trust were halted earlier Monday.</p>\n<p>The deal can only proceed if SPH shareholders first vote against the Keppel offer at a meeting on Dec. 8, according to the statement. If that proposal is voted down, shareholders will then proceed to vote for the Cuscaden offer in January.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cuscaden Peak Raises Offer For Singapore Press Holdings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCuscaden Peak Raises Offer For Singapore Press Holdings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-15 10:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-11-15/singapore-press-inks-pact-with-cuscaden-for-privatization><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cuscaden Peak Pte.raised its offer for Singapore Press Holdings Ltd., giving the consortium the upper hand in a bidding tussle to acquire the company’s property assets.\nThe agreement provides SPH ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-11-15/singapore-press-inks-pact-with-cuscaden-for-privatization\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.bloomberg.com/news/articles/2021-11-15/singapore-press-inks-pact-with-cuscaden-for-privatization","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136863491","content_text":"Cuscaden Peak Pte.raised its offer for Singapore Press Holdings Ltd., giving the consortium the upper hand in a bidding tussle to acquire the company’s property assets.\nThe agreement provides SPH shareholders with either a total consideration of S$2.40 per share, comprising a mix of SPH REIT units and cash, or an all cash offer of S$2.36 apiece, according to a statement from both firms. The offer values SPH at S$3.9 billion ($2.9 billion), trumping a bid last weekfromKeppel Corp.\nSPH said the Cuscaden offer is “superior” and its independent directors in a preliminary recommendation advised shareholders to vote in favor of the bid.\nThe offer is another escalation in the takeover battle for the company’s assets. Cuscaden -- a consortium which also includes units backed by investment giant Temasek, in addition to Mapletree Investments Pte. and a company tied to Singapore property tycoon Ong Beng Seng -- has been competing with Keppel to acquire SPH’s assets.\nKeppel had offered S$2.351 per share in a “final” offer last week.\n\nThe restructuring of the media business, which includes the Straits Times newspaper, was approved in September and is expected to be completed in December.\nThe Cuscaden offer of S$2.40 implies 3% upside from the last closing price. Trading of Singapore Press Holdings’ shares and those of its real estate investment trust were halted earlier Monday.\nThe deal can only proceed if SPH shareholders first vote against the Keppel offer at a meeting on Dec. 8, according to the statement. If that proposal is voted down, shareholders will then proceed to vote for the Cuscaden offer in January.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1287,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":["T39.SI"],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":46,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}