Singapore government investment company Temasek Holdings could drop its S$4.1 billion (US$2.94 billion) bid to acquire a controlling stake in Keppel as the conglomerate, which includes Keppel Offshore & Marine, struggles during the latest oil price downturn.
Temasek in October announced a partial offer to acquire an additional 30.55% stake in Keppel, in which it already owns a direct 20.45%.
However, there are a number of pre-conditions that have to be met or waived by 21 October 2020 in order for the deal to proceed.
