Under revised terms, Sembcorp (SMM SP) will issue fewer shares to Keppel (KEP SP). It's now a takeover rather than Scheme. Keppel will deliver more shares to shareholders, keeping less.
Stay cautiously positive on Socionext (6526 JP) until the stock starts trading as if those who bought on momentum look like they are getting out.
With investors chucking in the towel and the HSI touching a thirteen-year low, it's time for some old-school perspective applying Benjamin Graham's Net Nets
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