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Proposed Vol Conditional Cash Offer by Cairns
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L.....
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11-Jul-2008 22:56
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any shifus advice on this counter? |
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L.....
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10-Jul-2008 22:14
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vol is damn thin pathetic... any shifus can shed light on this counter? |
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wingyu
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10-Jul-2008 21:48
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wow! 20% return man!!!! dont care what is the reason!!! get that divident first!!!! will buy 1 lot tomoro to play play~ :p |
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L.....
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10-Jul-2008 19:51
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saw this CD with $1.50 anyone can shed light abt this counter? isit going to be delisted or what |
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yipyip
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03-Mar-2008 05:34
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Published March 3, 2008 Lees withdraw offer for Straits Trading They are accepting Tan family's $6.70 a share offer, citing volatile market conditions (SINGAPORE) The protracted battle for The Straits Trading Company (STC) has come to an abrupt end with OCBC Bank's founding Lee family suddenly withdrawing its offer for the mainboard company and accepting the $6.70 per share competing offer from the Tan family's The Cairns. In an announcement released yesterday, the Lee family vehicle Knowledge Two Investment Pte Ltd said that it was 'withdrawing its offer with immediate effect' and citing 'volatile market conditions' among other things. 'Any acceptances of the offer prior to or after the date of this announcement will be deemed not to have been made,' it added. In its reasons for the withdrawal, Knowledge Two Investment noted that in response to its offers of $5.76 and $6.55 per share on January 24 and February 14 respectively, The Cairns had increased its offer price by $1 per share or 17.5 per cent from its original offer price of $5.70 per share. 'This has increased total STC shareholder value by approximately $326 million,' the statement added. 'Taking into account the foregoing as well as the current volatile market conditions, the offeror and the Lee family companies holding in aggregate approximately 7.1 per cent of the total number of issued shares, have decided to realise their investments in STC and accept the Cairns offer at $6.70 per share.' This effectively ends a battle which saw two of Singapore's most famous corporate families - the Lees and the Tans, which have been linked for decades through OCBC Bank - on opposite sides in a contest for one of Singapore's oldest listed companies...... By VEN SREENIVASAN (The Business Times) |
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lynn89
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22-Feb-2008 23:56
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Who will win? The Lees or the Tans, I wonder? Any Toto shop taking bets? |
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limhpp
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28-Jan-2008 15:56
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Why is it that the offer is 6.50 per share and people are buying above the offered price? 0729 GMT [Dow Jones] Straits Trading (S20.SG) +10.9% at S$6.53, just shy of all-time S$6.55 high reached shortly after trading resumed at 0600 GMT. Fact that shares have cleared Tecity Group''s revised takeover offer price of S$6.50/share (vs S$5.70/share earlier) suggests investors betting Lee family of OCBC (O39.SG) will also raise its S$5.76/share bid for tin smelting, property group. But some players say Lee family, which owns 33% of Straits Trading, may not increase bid as their original move may have been meant to elicit higher price from Tecity so they can cash out. Foreign house dealer says it doesn''t make much sense to fight over a company with small investor following; "Straits Trading doesn''t look like it has very much of a role to play as they have only a few buildings and a tin smelting business. I think taking it private may be a better option with nothing visible on the horizon, as far as I can see." Upside for now likely limited as investors await next development. (FKH) |
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ah_bui
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06-Jan-2008 20:04
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Cairns intends to make a voluntary conditional cash offer for all the remaining issued ordinary shares in STC at S$5.70 per share (?Offer Price?). On the basis of the consideration price of S$5.70 in cash for each STC share, the Company is valued at approximately S$1,857.6 million. The Offer Price represents a premium of 14.9% to STC?s last transacted price per share on the Singapore Exchange Securities Trading Limited on 4 January 2008 (being the last full day of
The offer is conditional upon Cairns obtaining acceptances for shares in STC which, when
aggregated with shares owned, controlled or agreed to be acquired by Cairns and parties acting
in concert with it, will exceed 50% of the prevailing issued share capital of STC at the closing of
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