France’s CMA CGM pre-conditional offer

  • Pre-conditional offer of S$1.30
  • Subject to regulatory approval across 3 continents. (US, EU and China)
  • Upon approval, formal offer will be despatched to shareholders
  • Holding period, from now till June 2016, at worst

Comments: Upside seems to be capped at S$1.30 at most now (Pre-conditional Offer by CMA CGM). Downside seems to be higher if they did not get the offer past the regulators. Several brokerage houses have commented that current pre-conditional offer of S$1.30 is fair.

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