FILE PHOTO: A Temasek Holdings logo is seen at their office in Singapore July 8, 2014. REUTERS/Edgar Su
SINGAPORE (Reuters) - Singapore’s Temasek Holdings has decided to drop its $3 billion conditional offer for conglomerate Keppel Corp (KPLM.SI) after invoking a material adverse change (MAC) clause.
After Keppel fell to a large second-quarter loss that breached a threshold in Temasek’s offer to buy control of the company, Temasek had said it would make a decision by Aug. 31.
Reporting by Anshuman Daga, editing by Louise Heavens
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Temasek drops $3 billion bid for Singapore's Keppel Corp - Reuters
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