analysts by and large deemed Temasek's bid to gain control of Keppel through wholly-owned Kyanite Investment Holdings"reasonable"Adrian Loh of UOB Kay Hian said:"It appears to be fair, as it's about 3.5 per cent lower than our target price of S$7.61 for Keppel."
"Overall, we view this as a positive development as Temasek is taking a proactive approach in reviewing its portfolio and investments for the longer term. We maintain our fair value estimate of S$7.58 on the stock." A pivotal part of Monday's announcement is that, following the offer's successful close, Temasek said it will work with Keppel's board on a"comprehensive strategic review" to create sustainable shareholder value, BT reported.
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