United Engineers

[ngcheeki]

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

[kbl]

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?

[ngcheeki]

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

[LionFlyer]

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?

[edragon]

Different family.

STC: Tan
OCBC: Lee

The last wrestling match in 2008 Tan won STC but have to pay Lee much more for it.

[felixleong]

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

[propertyinvestor]

STC has already acquired shares of WBL from the 2 fund managers. They are not obliged to up the bid.

[pianist]

UE halted today........
hope to hear some good news

indeed is a very gd news ah

---

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.

[felixleong]

UE opening higher, LOL

[LionFlyer]

http://info.sgx.com/webcoranncatth.nsf/V...C003AAC10/$file/MGO.pdf?openelement

GO for WBL has been approved at AGM.