OCBC Bank Proposes Premium Offer for Great Eastern

Great Eastern Holdings Limited (SG:G07) has released an update.

OCBC Bank has made a voluntary unconditional general offer to acquire all issued ordinary shares of Great Eastern Holdings Limited at a premium, quoting a price of S$25.60 per share, which surpasses the last traded price and average price metrics over various periods up to May 9, 2024. Despite the independent financial adviser’s (IFA) opinion that the offer is ‘not fair but reasonable,’ OCBC highlights the offer’s favorable price to book value (P/BV), price to earnings (P/E), and price to embedded value (P/EV) compared to the last traded price. The bank urges shareholders to consider the IFA’s thorough analysis and the Independent GE Directors’ recommendation to accept the offer.

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