In today’s briefing:
- Great Eastern (GE SP): OCBC’s S$25.60 Unconditional Offer
Great Eastern (GE SP): OCBC’s S$25.60 Unconditional Offer
- OCBC (OCBC SP) has made a voluntary unconditional general Offer for the 11.56% in Great Eastern Holdings (GE SP) not held.
- The S$25.60 cash Offer for the life/non-life insurer is a 36.9% premium to last close; and a 30% discount to its S$36.59/share embedded value (as at 31st Dec 2023).
- The Offer is unconditional in all respects. This will trade tight. A delisting Offer is next on the cards.
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