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...
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