for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Financials

Temasek drops $3 bln bid for Singapore's Keppel Corp

SINGAPORE, Aug 10 (Reuters) - Singapore’s Temasek Holdings has decided to drop its $3 billion conditional offer for conglomerate Keppel Corp after invoking a material adverse change (MAC) clause.

After Keppel fell to a large second-quarter loss that breached a threshold in Temasek’s offer to buy control of the company, Temasek had said it would make a decision by Aug. 31.

Reporting by Anshuman Daga, editing by Louise Heavens

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up