SINGAPORE (THE BUSINESS TIMES) – The mandatory general offer by Temasek for Sembcorp Marine (Sembmarine) has turned unconditional after the total shares it owns, controls or agreed to be acquired crossed the 50 per cent threshold.
In a bourse filing on Monday night (Nov 1), Temasek disclosed that it has garnered acceptances equalling to 4 per cent of Sembmarine’s total shares. This brings the shares the sovereign wealth fund owns, controls or agreed to be acquired to 50.6 per cent of Sembmarine’s total shares.
The remaining shareholders have until 5.30 pm on Nov 3 to accept the offer, and will not be able to do so after that. Temasek reiterated that the offer will not be extended beyond the closing date.
Shares of Sembmarine closed flat at 7.9 cents on Monday, below the eight cents offer price.