Singapore's Temasek Holdings has not yet decided whether to invoke a clause in its $3bn conditional offer for Keppel Corp that would allow the state-owned investment firm to withdraw the bid.
Keppel Corp reported a second-quarter loss last week that breached a threshold in Temasek’s offer to take control of the Singapore-listed shipbuilding, real estate and infrastructure firm. That could allow the investment firm to invoke a so-called material adverse change (MAC) clause.
