Keen contest: The SPH office in Singapore. ― Reuters
SINGAPORE: Cuscaden Peak raised its offer for Singapore Press Holdings Ltd to about S$3.9 billion ($2.88 billion), looking to fend off a challenge by Keppel Corp in a rare bidding war between two groups linked to Singapore state investor Temasek Holdings.
Cuscaden - a consortium of billionaire property tycoon Ong Beng Seng's Hotel Properties and two independently managed portfolio companies of Temasek - raised its cash-plus-stock offer by around 14% to S$2.40 per share, the group and SPH said in a statement on Monday.
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