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Yanlord-Perennial offer for United Engineers lapses

Samantha Chiew Published on Wed, Sep 20, 2017 / 7:49 AM GMT+8

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SINGAPORE (Sept 20): United Engineers will remain listed after an offer to take the century-old property group private failed.

In a filing on Tuesday night, Yanlord Perennial Investment announced only 1.36% of ordinary shareholders had tendered their shares before the close of the offer at 5.30pm.

The Perennial Real Estate and Yanlord Group consortium made an open offer for all UE shares after buying a 33.4% stake in UE.

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