SembCorp may offer shares for Jurong<\/p>\n
SINGAPORE (Reuter): SembCorp Ltd said yesterday it was
\nconsidering offering new SembCorp shares and cash as an
\nalternative to just cash in its takeover offer for Jurong
\nShipyard.<\/p>\n
In a statement issued by SembCorp's financial adviser,
\nStandard Chartered Merchant Bank Asia Ltd, SembCorp said it will
\nbe seeking approval from shareholders for the share cum cash
\nalternative.<\/p>\n
It said: \"Shareholders should note the share alternative is
\nonly under consideration and the directors may or may not proceed
\nwith it.\"<\/p>\n
SembCorp had earlier signed an agreement with Jurong to merge
\nthe shipyard operations of the two companies.<\/p>\n
Under the deal, SembCorp will inject its shipyard assets into
\nJurong, which will in turn pay for them by issuing new Jurong
\nshares at Singapore $6.80 each.<\/p>\n
The merger will result in SembCorp increasing its stake in
\nJurong to 38.6 percent from about 23 percent currently.
\nUnder Singapore takeover laws, SembCorp will have to make a
\ngeneral offer for all outstanding Jurong shares at S$6.80 a share
\nin cash.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/sembcorp-may-offer-shares-for-jurong-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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