SIA makes offer for Tigerair unconditional

Dino D'Amore
By Dino D'Amore January 13, 2016 23:23

SIA makes offer for Tigerair unconditional

Singapore Airlines has made its offer to buyout Tigerair shareholders unconditional. This means that Tigerair shareholders who accept SIA’s offer will get their money even if the airline falls short of its target. The initial offer include a caveat that SIA could have returned the stock to Tigerair investors if it did not meet its target to own enough shares – 90 per cent – needed to delist the carrier. SIA has also extended the deadline for acceptances.

The airline now owns, controls or has agreed to acquire 79.22 per cent of Tigerair’s shares. The offer price values Tigerair at approximately $1.125 billion.

Dino D'Amore
By Dino D'Amore January 13, 2016 23:23