Keppel Raises Offer in Bidding War for Singapore’s SPH
- Temasek-linked Keppel boosts offer by 12%, says it’s ‘final’
- City-state property tycoon and other Temasek units eyeing SPH
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A bidding war is heating up over a Singapore media and property company, as entities linked to the city state’s investment firm rival each other in a rare clash.
Keppel Corp -- which is linked to Temasek Holdings Pte. -- raised its offer to buy Singapore Press Holdings Ltd. by 12% after a rival entered a bid. The offer of S$2.351 per share includes additional cash of S$0.20 per share and is “final,” according to a statement filed on the Singapore Exchange late Tuesday.