Property Co. UEL Values WBL At $953M In Latest Buyout Bid

Law360, New York (March 12, 2013, 3:54 PM EDT) -- Property company United Engineers Ltd. on Tuesday ramped up its bid for the share of conglomerate WBL Corp. it doesn't already own, a move that came the same day it sealed shareholder support for the takeover that values WBL at $1.19 billion Singapore dollars (US$953 million).

Under the revised terms, UEL will pay S$4.15 per share, a slight increase to the S$4-per-share bid initially offered by the firm in late January. The holders of 97 percent of UEL's outstanding shares signed off on the terms at...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.