SINGAPORE (July 14): Lim & Tan says it does not expect United Engineers to be taken private successfully in the latest offer.
See: Yanlord-led consortium to acquire stakes in UE, WBL Corp for up to $730 mil
In its Friday daily review, the brokerage says the offer price for both UE and WBL Corporation at $2.60 and $2.07, price them at 0.88x and 0.78x price to book and "is clearly disappointing for minority shareholders of UE".
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