UOL offers to take over UIC for S$1.20 a share

Mainboard-listed UOL Group has made a takeover bid for United Industrial Corp (UIC). UOL is paying S$1.20 per share - valuing UIC at S$1.6 billion. The move comes after UOL's shareholding in UIC crossed the 30 per cent mark. Under listing rules, this means it has to make a general offer for the remaining shares. UOL's bid for UIC has revived long-time rivalries between United Overseas Bank Chairman Wee...

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