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- Jul 13, 2018
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Wet Wet Leak - Hyflux closed doors to new suitors after Salim/Medco Proposal. New offer was rejected by Hyflux Management & Maybank in concerted move.
With the revelation of the financial health of last Fiscal Year, potential suitor is now assessing if they should go public to make a hostile offer.
If so, terms of April 5 Voting expect to be amended Stay tuned!
NEA continued to be in discussions after Indonesians came into the picture but Olivia was sufficiently biased or bribed. M&A reps from a Chinese state-owned enterprise (SOE) also tried to engage Hyflux but they were also shut-out by Hyflux.
PUB is NEA's proxy. Last night's development came a day after post #451 because it is in the best interest of NEA.
Both Chinese SOE and NEA were prepared to go public because Hyflux's management was unfairly biased towards Indonesians. By going hostile, NEA checkmated the Chinese SOE (before the Chinese SOE can announce a better takeover deal in public). Doing so, will force the Chinese to withdraw their plans and NEA will avoid being blamed for blocking a good suitor again.
Looks like NEA don't intend to be a white knight and treats retail investors like beggar too. The White Knights are the Chinese but they don't want Olivia on board.
THE CHINESE STATE-OWNED ENTERPRISE IS HERE!!!
https://links.sgx.com/FileOpen/20190614 Announcement on China investor LOI_final.ashx?App=Announcement&FileID=563634
The Company wishes to announce that it has received another non binding letter of intent for a potential investment in the Group by a potential investor based in China subject to regulatory clearance, due diligence and the execution of a binding agreement on mutually agreeable terms.
The Investor has previously executed a non-disclosure agreement and has commenced preliminary due diligence on the Group.
The Investor is a subsidiary of a state-owned enterprise in the industrial field which works on a global scale to provide comprehensive power services. Other fields of expertise of the Investor’s holding company include wind and solar energy solutions, nuclear industry, medical technology and agriculture