Should investors accept Temasek’s $1.68 per share offer for SMRT?

SINGAPORE (July 21): UOB has indicated it is inclined to accept the offer price of $1.68 a share for SMRT Corp, according to a Thursday report. The offer share represents an 8.7% premium to its last closing price of $1.545 on July 15.

The development comes as state-owned investment holding company Temasek Holdings and SMRT jointly announced the privatisation of SMRT on Wednesday evening.

Under the scheme, SMRT will be acquired by Belford Investments, a wholly owned subsidiary of Temasek Holdings, for a total consideration of $1.18 billion for the roughly 702 million shares not already owned by Temasek.

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