UEL Values WBL At $1B In Sweetened Last-Ditch Buyout Bid

Law360, New York (May 09, 2013, 5:42 PM ET) -- Property company United Engineers Ltd. on Thursday raised its takeover offer for conglomerate WBL Corp. Ltd. to roughly 1.25 billion Singapore dollars (US$1 billion), an increase over an already sweetened bid that it said will be its final stab at winning over the car distributor.

Under the revised terms, UEL agreed to fork over SG$4.50 per share, nearly a 30 percent premium over trading before rumors of a deal began to swirl in November. It also beats a previous SG$4.15-per-share proposal. The companies have jostled since...
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