CGS-CIMB Research analyst Lim Siew Khee has maintained her ‘add’ rating with an unchanged target price for ST Engineering after the company increased its bid to acquire Cubic Corporation from US$76 ($102.43) per share to US$78 per share.

If successful, ST Engineering would pay US$2.48 billion to acquire Cubic Corp. Lim expects the final outcome of the bidding war, which began in September 2020, to be finalised over the next few days.

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