The news is out, UE launch an all cash offer on WBL on behalf of OCBC and GE , offering cash of S$4 per share versus cash offer of S$3.41 by STC. Look like there will be a bidding war breaking out!!
http://info.sgx.com/webcoranncatth.nsf/V...30017DA3B/$file/PreConditionalVGO_Announcement_30Jan13.pdf?openelement
(30-01-2013, 12:58 PM)ngcheeki Wrote: [ -> ]The news is out, UE launch an all cash offer on WBL on behalf of OCBC and GE , offering cash of S$4 per share versus cash offer of S$3.41 by STC. Look like there will be a bidding war breaking out!!
http://info.sgx.com/webcoranncatth.nsf/V...30017DA3B/$file/PreConditionalVGO_Announcement_30Jan13.pdf?openelement
on behalf of OCBC and GE?
(30-01-2013, 01:30 PM)kbl Wrote: [ -> ] (30-01-2013, 12:58 PM)ngcheeki Wrote: [ -> ]The news is out, UE launch an all cash offer on WBL on behalf of OCBC and GE , offering cash of S$4 per share versus cash offer of S$3.41 by STC. Look like there will be a bidding war breaking out!!
http://info.sgx.com/webcoranncatth.nsf/V...30017DA3B/$file/PreConditionalVGO_Announcement_30Jan13.pdf?openelement
on behalf of OCBC and GE?
The following is my personal hypothesis only:
OCBC said that the offer price by STC of $3.41 on WBL is too low!! So asked his another daughter which has some synergy to WBL, i.e. UE, to offer a higher price to force STC to offer a higher price.
http://www.cpf.gov.sg/imsavvy/infohub_ar...7D&print=1
Different family.
STC: Tan
OCBC: Lee
The last wrestling match in 2008 Tan won STC but have to pay Lee much more for it.
OCBC is so damn evil
Straits trading offer of $3.41 was quite close to book value, I think it was a fair offer but not an attractive one
Now OCBC making use of UE to pay a hefty premium for WBL
End of the day UE shareholers lugi and OCBC tan tio
Straits trading likely has only 2 choice, take the $4 offer or make a higher bid
If they make a higher bid, their shareholders stand to lose
No matter which path taken, OCBC wins with a big gain on their books
STC has already acquired shares of WBL from the 2 fund managers. They are not obliged to up the bid.
(30-01-2013, 09:38 AM)nitro Wrote: [ -> ]UE halted today........
hope to hear some good news
indeed is a very gd news ah
(30-01-2013, 02:04 PM)ngcheeki Wrote: [ -> ] (30-01-2013, 01:30 PM)kbl Wrote: [ -> ] (30-01-2013, 12:58 PM)ngcheeki Wrote: [ -> ]The news is out, UE launch an all cash offer on WBL on behalf of OCBC and GE , offering cash of S$4 per share versus cash offer of S$3.41 by STC. Look like there will be a bidding war breaking out!!
http://info.sgx.com/webcoranncatth.nsf/V...30017DA3B/$file/PreConditionalVGO_Announcement_30Jan13.pdf?openelement
on behalf of OCBC and GE?
The following is my personal hypothesis only:
OCBC said that the offer price by STC of $3.41 on WBL is too low!! So asked his another daughter which has some synergy to WBL, i.e. UE, to offer a higher price to force STC to offer a higher price.
http://www.cpf.gov.sg/imsavvy/infohub_ar...7D&print=1
u r rite..that chairwoman at stc, she like to be nudged into a bidding war i think..that is her style..no bidding war, no fun for her i guess.