Cuscaden Peak, a three-way consortium formed by Hotel Properties, Mapletree Investments and CapitaLand, have tabled an all-cash offer of $2.36 for each SPH share held.
Alternatively, SPH shareholders can choose to receive a mix of $1.602 in cash, and 0.782 SPH REIT unit for every SPH share.
Rival SPH bidder Keppel Corp, in contrast, has put forward a “final” offer for $0.868 in cash, 0.782 SPH REIT and 0.596 Keppel REIT.
Keppel Corp’s offer has been rebuffed by SPH. In response, Keppel Corp has on Feb 9 filed arbitration proceedings against SPH.
See also: Cosmosteel’s CEO Ong resigns after 3HA Capital offer declared unconditional
SPH closed on Feb 14 at $2.32, down 0.43% for the day.
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