In today’s briefing:
- Singapore Medical’s VGO: Revised Offer of S$0.40 Is Good to Go
Singapore Medical’s VGO: Revised Offer of S$0.40 Is Good to Go
- Singapore Medical (SMG SP)‘s voluntary conditional offer from management (chairman, CEO, exec director) has been increased from S$0.37 to S$0.40 per share (share option unchanged).
- The revised offer is final unless there is a competitive situation. The offeror came to the realisation that a bump was required to meet the 90% minimum acceptance condition.
- Acceptances stand at 77.42% of outstanding shares. The revised offer is now reasonable and should be sufficient to nudge holdouts to accept. At last close, the gross spread is 5.3%.
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