Goldman and DBS in OUB/UOB presentation fiasco

A public apology is in the offing as a farcical situation comes to a close.

In one of the most bizarre twists in the battle for Singapore's OUB, DBS and Goldman Sachs are to apologize for putting together a defamatory presentation book. The presentation which circulated in Europe during an international roadshow was designed to persuade investors that DBS's bid for OUB was better than UOB's.

There were red faces all-round, however, when one investor passed the presentation to UOB, which was also conducting roadshows around Europe.

The presentation contained slides which upset both OUB and UOB and was deemed by their Singapore lawyers to be defamatory in the manner in which it worded its accusations the gist of which were that while DBS was...

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