Keppel shareholders approve bid to buy media giant Singapore Press Holdings

At the Keppel EGM, 98.22 per cent, or shareholders of 380.9 million shares, voted in favour of the proposed acquisition of SPH. - The Straits Times/ANN

SINGAPORE, Dec 9 (Bloomberg): Keppel Corp. shareholders approved the company’s bid to acquire a Singapore media and property group, the latest step in a rare takeover battle with a competitor that’s offering a sweeter deal.

More than 98% of its shareholders present at a meeting on Thursday voted for the deal, Keppel said in statement on Thursday. Keppel, which is linked to Temasek Holdings Pte., has said its offer to acquire Singapore Press Holdings Ltd. is final and a "win-win” proposition for both firms.