Great Eastern Holdings Ltd. (GEH)—a leading insurance company offering life and general insurance products, along with asset management services across Southeast Asia—received a buyout offer on May 10, 2024, from its major shareholder, Oversea-Chinese Banking Corporation Ltd. (OCBC). The offer was to acquire the remaining 11.56 per cent stake for S$1.4 billion. The offer price of $25.60 per share was 36.9 per cent higher than GEH’s last traded price of $18.70 but 30 per cent lower than GEH’s embedded value per share of $36.59 as of December 31, 2023. GEH minority shareholders needed to make an informed decision based on the valuation of GEH and weigh the trade-offs of accepting the offer. Key considerations included fair valuation, the interest of minority shareholders, OCBC’s strategic intention, and the potential delisting of GEH from Singapore Exchange Ltd.
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