Temasek makes $3 billion bid to take control of Singapore's Keppel Corp

Singapore state investor Temasek Holdings is offering to take control of Keppel Corp in a S$4.1 billion (2.32 billion pounds) deal that will shore up support for the conglomerate, which is battling difficult business conditions.

Temasek, which directly owns 20.5 per cent of Keppel, said in a statement that the pre-conditional offer is subject to it obtaining domestic and foreign regulator approvals, which could take many months. Keppel, whose businesses range from rig-building to property development, has been facing business challenges.

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