Singapore Insurer's Holders Seeking Better Offer From OCBC.

INVESTORS; INSURANCE companies; EQUITY stake; STOCK prices; FINANCIAL planners

A group of minority shareholders of Great Eastern Holdings Ltd. are opposing the S$1.4 billion takeover bid from Oversea-Chinese Banking Corp. (OCBC). While the offer price of S$25.60 per share is higher than the pre-announcement price, some shareholders argue that it represents a 30% discount against Great Eastern's embedded value. OCBC, which already owns over 88% of Great Eastern, is seeking to delist the stock. The minority shareholders are requesting a fair exit offer if OCBC has no other options. [Extracted from the article]

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