United Engineers

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#41
The news is out, UE launch an all cash offer on WBL on behalf of OCBC and GE , offering cash of S$4 per share versus cash offer of S$3.41 by STC. Look like there will be a bidding war breaking out!!

http://info.sgx.com/webcoranncatth.nsf/V...30017DA3B/$file/PreConditionalVGO_Announcement_30Jan13.pdf?openelement
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#42
(30-01-2013, 12:58 PM)ngcheeki Wrote: The news is out, UE launch an all cash offer on WBL on behalf of OCBC and GE , offering cash of S$4 per share versus cash offer of S$3.41 by STC. Look like there will be a bidding war breaking out!!

http://info.sgx.com/webcoranncatth.nsf/V...30017DA3B/$file/PreConditionalVGO_Announcement_30Jan13.pdf?openelement

on behalf of OCBC and GE?
Not a call to Buy or Sell

Mr Bump: All I Can Smell Is My FEAR
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#43
(30-01-2013, 01:30 PM)kbl Wrote:
(30-01-2013, 12:58 PM)ngcheeki Wrote: The news is out, UE launch an all cash offer on WBL on behalf of OCBC and GE , offering cash of S$4 per share versus cash offer of S$3.41 by STC. Look like there will be a bidding war breaking out!!

http://info.sgx.com/webcoranncatth.nsf/V...30017DA3B/$file/PreConditionalVGO_Announcement_30Jan13.pdf?openelement

on behalf of OCBC and GE?

The following is my personal hypothesis only:
OCBC said that the offer price by STC of $3.41 on WBL is too low!! So asked his another daughter which has some synergy to WBL, i.e. UE, to offer a higher price to force STC to offer a higher price.

http://www.cpf.gov.sg/imsavvy/infohub_ar...7D&print=1
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#44
http://info.sgx.com/webcoranncatth.nsf/V...3000DF2E4/$file/Dealing_Disclosure_29Jan2013.pdf?openelement

How about this? It seem to value WBL at $4.18 per stock. Why would there be a difference if STC is the one pulling the strings from behind?
You can count on the greed of man for the next recession to happen.
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#45
Different family.

STC: Tan
OCBC: Lee

The last wrestling match in 2008 Tan won STC but have to pay Lee much more for it.
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#46
OCBC is so damn evil
Straits trading offer of $3.41 was quite close to book value, I think it was a fair offer but not an attractive one

Now OCBC making use of UE to pay a hefty premium for WBL
End of the day UE shareholers lugi and OCBC tan tio

Straits trading likely has only 2 choice, take the $4 offer or make a higher bid
If they make a higher bid, their shareholders stand to lose

No matter which path taken, OCBC wins with a big gain on their books
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#47
STC has already acquired shares of WBL from the 2 fund managers. They are not obliged to up the bid.
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#48
(30-01-2013, 09:38 AM)nitro Wrote: UE halted today........
hope to hear some good news
indeed is a very gd news ah

(30-01-2013, 02:04 PM)ngcheeki Wrote:
(30-01-2013, 01:30 PM)kbl Wrote:
(30-01-2013, 12:58 PM)ngcheeki Wrote: The news is out, UE launch an all cash offer on WBL on behalf of OCBC and GE , offering cash of S$4 per share versus cash offer of S$3.41 by STC. Look like there will be a bidding war breaking out!!

http://info.sgx.com/webcoranncatth.nsf/V...30017DA3B/$file/PreConditionalVGO_Announcement_30Jan13.pdf?openelement

on behalf of OCBC and GE?

The following is my personal hypothesis only:
OCBC said that the offer price by STC of $3.41 on WBL is too low!! So asked his another daughter which has some synergy to WBL, i.e. UE, to offer a higher price to force STC to offer a higher price.

http://www.cpf.gov.sg/imsavvy/infohub_ar...7D&print=1
u r rite..that chairwoman at stc, she like to be nudged into a bidding war i think..that is her style..no bidding war, no fun for her i guess.
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#49
UE opening higher, LOL
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#50
http://info.sgx.com/webcoranncatth.nsf/V...C003AAC10/$file/MGO.pdf?openelement

GO for WBL has been approved at AGM.
You can count on the greed of man for the next recession to happen.
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