also in November. This came with two options: $2.40 a share for SPH, comprising $1.602 cash and 0.782 of an SPH Reit unit through a distribution-in-specie by SPH; or an all-cash deal of $2.36 a share.
In contrast, the implied valuation of the Keppel scheme consideration is $2.318, which is below SPH's last trading price of $2.33 per share. The termination of the Keppel scheme will allow shareholders to vote at the Cuscaden scheme meeting"as soon as practicable", said SPH.