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$2.14 is an attractive price to consider selling. But what is uncertain is KC, Cuscaden or another company may join in to counter bid for SPH. Also there is a 3c dividend end of this month. All looking good for SPH. I am holding on to this gem until there is more clarity.
Definitely worth more than $2.14
Definitely worth more than $2.14
PhillipTan ( Date: 01-Nov-2021 09:21) Posted:
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Offered price is too far low fair offer should atleast above $3.00
Wow, shocking increase in price
I was about to sell until I saw what was being shared, now waiting to see what is the new offer from KC
Lol
I was about to sell until I saw what was being shared, now waiting to see what is the new offer from KC
Lol
Agree. KC is likely to counter offer within 10days.
This morning SPH is $2.14
This morning SPH is $2.14
Goldfinger ( Date: 01-Nov-2021 08:52) Posted:
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Think hard for Keppel to walk away clean now - too much face involved unless TH tells them to back off
Keppel wins break contract fee of $34M or bid better ???
The Board is considering the Proposal in accordance with its fiduciary duty to maximise shareholder value. In addition, pursuant to the terms of the implementation agreement entered into with Keppel Pegasus Pte. Ltd. (the &ldquo Offeror&rdquo ) on 2 August 2021, the Company has notified the Offeror of the Proposal and the Offeror has the opportunity, within ten business days, to improve their current proposal.
The board would look silly if it recommends a more feeble existing offer
The Board wishes to highlight that the Proposal is not a firm offer by Cuscaden for all the Shares. The Company and Cuscaden have not entered into any definitive or binding agreement in relation to the Proposal and there is no assurance that any transaction will materialise or that any definitive or binding agreement will be reached with Cuscaden. The Company remains bound by the terms of the implementation agreement entered into with Keppel Pegasus Pte. Ltd. on 2 August 2021. The Company will make further announcements if and when there are any material developments which warrant disclosure, in compliance with applicable laws and regulations.
SPH is expected to easily cross $2 today
This weekend many ppl are very busy after Cuscaden Peak offer for SPH.
The management & boards of Cuscaden, SPH, KepCorp and their advisors namely MS, CS & JPM got their weekend burnt.
May the bidding war continues &hellip .. 🚀
The management & boards of Cuscaden, SPH, KepCorp and their advisors namely MS, CS & JPM got their weekend burnt.
May the bidding war continues &hellip .. 🚀
Goldfinger ( Date: 31-Oct-2021 08:20) Posted:
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Goldfinger ( Date: 31-Oct-2021 08:40) Posted:
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Remember we were advised Keppel was the best deal on the table hahahha
I am hoping for other better bidders from 3rd party - since there is now an ongoing Battle Royale
the next 10 days will be interesting. Let us see whether KC will adjust its $2.099 offer
Goldfinger ( Date: 31-Oct-2021 08:20) Posted:
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Sit tight - the show has just begun.
Aiyaah! Blur lar
If at the time offer done by Keppel and at the same time share price of SPHreit & Kepreit
drop? Tats mean the offer is lower than $2.099 lar
Why is Ong Beng Seng interested in SPH?
Ong is the co-founder of HPL - a conglomerate with interests in hotel ownership, management and operation property development and investment holding.
ON Friday (Oct 29), a consortium of companies comprising Hotel Properties (HPL) and its managing director Ong Beng Seng, and 2 Temasek-linked entities, CLA Real Estate and Mapletree Investments, launched a surprise rival offer for Singapore Press Holdings (SPH).
Who is Ong Beng Seng?
Ong, together with his wife Christina Ong are among Singapore' s wealthiest couples - Forbes put their net worth at US$1.7 billion as of August - and their business interests span a wide range of industries including hotels, fashion, and food and beverage companies. Ong is also credited as being one of those responsible for first bringing the Formula 1 night race to Singapore in 2008.
Hotel Properties Ltd
Popularly known by his initials OBS, Ong is the co-founder of HPL - a conglomerate with interests in hotel ownership, management and operation property development and investment holding.
As of last December, the group had a portfolio of 38 hotels and resorts across 15 countries including Italy, the Maldives and Vanuatu. Brands within the portfolio include Four Seasons Hotels & Resorts, Hard Rock Hotels, Hilton International and Marriott International.
It also runs Hard Rock Cafe outlets in South-east Asian countries including Singapore, Malaysia, Indonesia and Thailand.
In Singapore, the group has 3 hotels in its portfolio - Concorde, Four Seasons and Hilton - all in the vicinity of Orchard Road. HPL also has commercial and retail properties along the shopping belt, including Forum The Shopping Mall, and shop units at Concorde Shopping Mall.
SPH holds 65.4 per cent of SPH Reit, which owns shopping malls including Paragon along Orchard Road. The consortium making the offer for SPH has said that if the offer is successful, it could be obliged to also make an offer for SPH Reit.
Como Group
Christina Ong is the founder and owner of Como Group, which has interests across hospitality, fashion, wellness, organic living and specialty foods.
The group runs retail empire Club 21, which partners luxury fashion brands and designers, and manages over 250 fashion brands across 400 stores in Asia. Brands carried by Club 21 include Calvin Klein, Mulberry and DKNY.
The group has a hospitality business under Como Hotels and Resorts, and it also operates a food and beverage business, which includes Como Dempsey.
Past dealings
This is not the first time that the billionaire business tycoon has mounted a challenge for a Singapore Exchange-listed company in partnership with Temasek-linked entities.
Between 2002 and 2003, Ong led a consortium, 98 Holdings, in a bid for steelmaker NatSteel. The consortium also involved Temasek.
The consortium narrowly won control of NatSteel, following a battle with business tycoon Oei Hong Leong.
SPH, which publishes The Business Times, received a privatisation offer from Keppel Corporation in August. This offer comprises cash of S$0.668 per share, 0.596 Keppel Reit unit and 0.782 SPH Reit unit per share.
Based on Thursday' s (Oct 28) closing price of S$1.10 and S$0.975, respectively, for Keppel Reit and SPH Reit units, Keppel' s privatisation offer would have been worth around S$2.086 per share.
Yes. Likely
Goldfinger ( Date: 30-Oct-2021 14:44) Posted:
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Think it?s gg to bid up to $2.20-$2.30 range and even higher if more bidders enter now - since it?s a free for all and even the GLC and SWF are fighting each other.
ckmpd1 ( Date: 30-Oct-2021 14:13) Posted:
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