, Singapore

SIA's offer for Tigerair "fair and reasonable", says independent financial adviser

Shareholders should accept the offer.

Singapore Airlines' takeover offer for Tigerair is fair and reasonable, according to a circular by Maybank Kim Eng.

Maybank Kim Eng is the independent financial adviser (IFA) to Tigerair's Independent Directors.

"We are of the opinion that the financial terms of the Offer are, on balance, fair and reasonable. Based on our opinion, we advise the Independent Directors to recommend that Shareholders accept the Offer, unless Shareholders are able to obtain a price higher than the Offer Price on the open market, taking into account all brokerage commissions or transaction costs in connection with open market transactions," said Maybank Kim Eng.

SIA is offering 41 cents per Tigerair share. The offer also includes an option for shareholders to subscribe to SIA shares at $11.1043 per share.
 

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