Singapore: Falcon Energy’s bid to take over all the shares of Singapore-listed CH Offshore has now turned unconditional, according to a release from CIMB Bank. Falcon held 62.27% of CH Offshore’s shares as of close of business yesterday, crossing the majority 50% threshold to make the voluntary offer unconditional.
On February 10, shares of CH Offshore rose 7.8% to 55 cents, the highest since October 2010, after a sweeteened takeover offer. Chuan Hip Holdings, which owned 24.7% of CH Offshore, accepted this new offer paving the way for the takeover.
