|Bid||5.24 x 0|
|Ask||5.23 x 0|
|Day's Range||5.20 - 5.28|
|52 Week Range||4.08 - 6.87|
|Beta (5Y Monthly)||1.14|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jan 21, 2021 - Jan 25, 2021|
|Forward Dividend & Yield||0.15 (2.86%)|
|Ex-Dividend Date||Aug 07, 2020|
|1y Target Est||8.23|
Shares in Singapore's Keppel Corp fell 13% on Tuesday after Temasek Holdings abandoned its $3 billion offer for the conglomerate by invoking a material adverse change clause following the company's poor financial results. Keppel's large second-quarter loss that breached a threshold in the state investor's offer to buy majority control had boosted the risk Temasek would abandon the deal. "It was a surprise, as my base case was that Temasek would have proceeded, but with a lower offer price," said KGI Securities analyst Joel Ng.
Singapore's Temasek Holdings is terminating its $3 billion conditional offer for conglomerate Keppel Corp <KPLM.SI> by invoking a material adverse change (MAC) clause following the company's poor financial results. Keppel's large second-quarter loss that breached a threshold in the state investor's offer to buy control of the company had raised the risk Temasek would abandon the deal. "The offeror has decided that it will invoke the MAC pre-condition, and accordingly, is announcing today that the partial offer will not proceed," a Temasek subsidiary said in a Singapore bourse statement on Monday, a public holiday.
Singaporean conglomerate Keppel Corp swung to a big second-quarter loss on Thursday that breaches a threshold in state investor Temasek Holdings' $3 billion conditional offer to buy control of the company. Last October, Temasek offered to increase its one-fifth stake in Keppel to 51%, raising expectations of consolidation in the domestic rig building sector. Temasek declined to comment on Keppel's results and the impact on its conditional offer.