Cubic Corp spurns ST Engineering's higher bid of US$78 per share

The Edge Singapore
The Edge Singapore3/31/2021 8:32 PM GMT+08  • 3 min read
Cubic Corp spurns ST Engineering's higher bid of US$78 per share
If the deal goes through, it would have been the local defence and engineering conglomerate’s largest-ever M&A deal.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

ST Engineering’s 11th-hour bid to lure Cubic Corp from its original suitor has been rebuffed.

The board of Cubic has decided to accept a joint US$75 offer from Veritas Capital and Evergreen Coast Capital.

ST Engineering on March 24 made a US$76 per share bid for Cubic, trumping Veritas and Evergreen’s original US$70 bid. ST Engineering’s bid values Cubic at US$2.4 billion.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.