Property Co. UEL To Make $545M Offer For WBL Stake
By Karlee Weinmann
Law360, New York (January 30, 2013, 3:09 PM ET) -- Property firm United Engineers Ltd. unveiled plans Wednesday to bid SG$671 million ($545 million) for the portion of conglomerate WBL Corp. Ltd. it doesn't already own, besting an earlier Straits Tradings Co. Ltd. offer and priming Singapore for its second big-ticket bidding war in recent months.
Under its proposed terms, UEL, also based in Singapore, would swallow up the 61.7 percent of WBL that it and its partners don't already own for a price of SG$4 per share. The proposal clocks in well above the Straits...