Cuscaden’s Cash‑Flush: Sprinkling $3.9 B on SPH
Yesterday’s headline hit harder than a surprise double tap in a hot week: Cuscaden Peak, the coalition steered by Singapore’s Temasek Holdings, has dialed up its sweetener for Singapore Press Holdings (SPH) to a dazzling $3.9 billion. The consortium’s new offer comes in at $2.40 per SHS share, a bump of almost 15 % over the original $2.10. It also outpaces Keppel’s rougher rival at $2.351.
Why the Cash‑Crunch Matters
Cuscaden’s proposal boasts a noticeably larger cash component—a clear sign they’re all in on SPH’s prized property stash: bustling malls, cosy student accommodation, and elder‑care complexes. The higher cash percentage means less heavy‑handing with stock, which is a win for shareholders who prefer quick cash.
The Spin‑Off Twist
- Both bids are conditional on SPH’s planned media spin‑off.
- Tossing around media assets like a hot potato could change the whole deal texture.
Watch This for a Bidding Tug‑of‑War
Now that Cuscaden has sweetened the pot, the next move might see a competitive duel that could squeeze out a cherry in the SPH property portfolio. Investors with a silver‑eye on malls and housing will be watching closely.
Temasek Ties in the Mix
With the conglomerate anchored by billionaire hotelier Ong Beng Seng and two Temasek‑affiliated outfits, the takeover has the weight of deep pockets behind it. The financial heft behind the bid isn’t just strong—it’s intimidating.
