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Singapore Press Holdings says to terminate Keppel Corp's offer

Reuters SG
·1-min read

SINGAPORE, Feb 10 (Reuters) - Singapore Press Holdings (SPH) said it had decided to exercise its right to terminate bidder Keppel Corp's offer and will allow SPH shareholders to vote on a rival S$3.9 billion ($2.9 billion) offer from a tycoon-backed group.

"The board would like to update shareholders that, following consultation by the company with the Securities Industry Council (SIC) regarding the termination right, the SIC has ruled that it has no objections to the company's exercise of the termination right," SPH said in a statement late on Wednesday. ($1 = 1.3420 Singapore dollars) (Reporting by Chen Lin in Singapore Editing by Ed Davies)