Keppel Limited

Are there any place to check how many shares have Keppel Corp acquire Keppel Land? I can't seem to find this information in SGX under the dealing disclosure. This is unlike other companies which would state how many percentage of shares it owns after acquisition announcement.

I doubt many Keppel Land shareholders will tender their shares early.
Most will be on a " Wait and See " mode.

The way Keppel Corp package the aquisition offer is very funny :
1. Punish the shareholders who surrender early with low base price ( $4.38 )
2. Only when the 90% threshold is triggered then they offer $4.60

Personally I think this scheme is very counter productive in helping them to achieve the 90% compulsary acquisition threshold.

(25-02-2015, 04:06 PM)Some-one Wrote: Are there any place to check how many shares have Keppel Corp acquire Keppel Land? I can't seem to find this information in SGX under the dealing disclosure. This is unlike other companies which would state how many percentage of shares it owns after acquisition announcement.

I didn't follow closely the offer, but I reckon the new offer price applies to all, once the 90% crossed. No "punishment" to any group.

(25-02-2015, 05:20 PM)Layman A Wrote: I doubt many Keppel Land shareholders will tender their shares early.
Most will be on a " Wait and See " mode.

The way Keppel Corp package the aquisition offer is very funny :
1. Punish the shareholders who surrender early with low base price ( $4.38 )
2. Only when the 90% threshold is triggered then they offer $4.60

Personally I think this scheme is very counter productive in helping them to achieve the 90% compulsary acquisition threshold.

(25-02-2015, 04:06 PM)Some-one Wrote: Are there any place to check how many shares have Keppel Corp acquire Keppel Land? I can't seem to find this information in SGX under the dealing disclosure. This is unlike other companies which would state how many percentage of shares it owns after acquisition announcement.

What if the 90% threshold is not cross ?

(25-02-2015, 05:31 PM)CityFarmer Wrote: I didn't follow closely the offer, but I reckon the new offer price applies to all, once the 90% crossed. No "punishment" to any group.

(25-02-2015, 05:20 PM)Layman A Wrote: I doubt many Keppel Land shareholders will tender their shares early.
Most will be on a " Wait and See " mode.

The way Keppel Corp package the aquisition offer is very funny :
1. Punish the shareholders who surrender early with low base price ( $4.38 )
2. Only when the 90% threshold is triggered then they offer $4.60

Personally I think this scheme is very counter productive in helping them to achieve the 90% compulsary acquisition threshold.

(25-02-2015, 04:06 PM)Some-one Wrote: Are there any place to check how many shares have Keppel Corp acquire Keppel Land? I can't seem to find this information in SGX under the dealing disclosure. This is unlike other companies which would state how many percentage of shares it owns after acquisition announcement.

Whether the 90% threshold cross or not, still no "punishment" to anyone. All will be paid the same price, right?

(25-02-2015, 05:35 PM)Layman A Wrote: What if the 90% threshold is not cross ?

(25-02-2015, 05:31 PM)CityFarmer Wrote: I didn't follow closely the offer, but I reckon the new offer price applies to all, once the 90% crossed. No "punishment" to any group.

(25-02-2015, 05:20 PM)Layman A Wrote: I doubt many Keppel Land shareholders will tender their shares early.
Most will be on a " Wait and See " mode.

The way Keppel Corp package the aquisition offer is very funny :
1. Punish the shareholders who surrender early with low base price ( $4.38 )
2. Only when the 90% threshold is triggered then they offer $4.60

Personally I think this scheme is very counter productive in helping them to achieve the 90% compulsary acquisition threshold.

(25-02-2015, 04:06 PM)Some-one Wrote: Are there any place to check how many shares have Keppel Corp acquire Keppel Land? I can't seem to find this information in SGX under the dealing disclosure. This is unlike other companies which would state how many percentage of shares it owns after acquisition announcement.

Problem is how do we know if the 90% threshold has been cross or close to been cross when there are no information on SGX? Is this actually normal? I have bought companies whose stock has been acquired before but they would always release information on how many percent they have acquired.

(25-02-2015, 11:01 PM)Some-one Wrote: Problem is how do we know if the 90% threshold has been cross or close to been cross when there are no information on SGX? Is this actually normal? I have bought companies whose stock has been acquired before but they would always release information on how many percent they have acquired.

KepCorp owns 54.6% of KepLand as of 22 Jan 15.

The dealing disclosures so far have been on that of "blackrock' - presumably, KepCorp's ownership remains unchanged.........

M&A has a lot on psychology and legality. Popular and SC Global gave a premium for a reason. CMA offer was raised slightly to "answer" market concern even though on a bigger scheme of things it wasn't that substantial. Scheme of arrangements also involve calculated risk of who will vote what

I think news flow is blacked out to entice those aggregate swing votes to give up guessing and tender to trigger 90%. If u have a sizable position u either take 4.60 or be prepared to hold at least another year and wait for stock to recover above 4.38 post offer

But I'm not going to give up so easily, as long as Black Rock don't 'chicken out' fast.

You see, Keppel Corp needed Keppel Land more than me. Of the 3 pillars that support the mothership, the O&G pillar is collapsing fast.

(25-02-2015, 11:27 PM)Boon Wrote:

(25-02-2015, 11:01 PM)Some-one Wrote: Problem is how do we know if the 90% threshold has been cross or close to been cross when there are no information on SGX? Is this actually normal? I have bought companies whose stock has been acquired before but they would always release information on how many percent they have acquired.

KepCorp owns 54.6% of KepLand as of 22 Jan 15.

The dealing disclosures so far have been on that of "blackrock' - presumably, KepCorp's ownership remains unchanged.........

Yes. This is what I have been seeing whenever I go SGX. Does it mean no one is selling their shares to Kep Corp? Hmm...I'm kind of skeptical. Price is not super good but it is pretty attractive to those who bought at $3.X