SINGAPORE (Sept 25): It seems that most minority investors in United Engineers have decided that they are better off hanging on to their shares instead of taking up an offer led by Yanlord Land and Perennial Real Estate Holdings to purchase them at $2.60 each. This came as Oxley Holdings amassed a major stake in UEL, pushing the target company’s stock price above the offer price. The offer, made on Aug 1 and extended until Sept 19, garnered acceptances amounting to just 1.36% of UEL’s outstanding shares.

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