japanese-firm-buys-the-singapore-governments-printer

Japanese firm buys the Singapore government's printer

Japan's Toppan Printing will pay up to $152 million for Temasek-owned SNP Corp, a printer of books, magazines and other products whose clients include the Singapore government.

By Sameera Anand

June 11, 2008

JapanÆs Toppan Printing is to acquire Singapore-headquartered SNP Corp, a Temasek-owned printing company with operations in China, Singapore and Thailand, for S$208 million $152 million.

Toppan is offering S$1.76 a share for all SNPÆs equity shares outstanding translating to an equity value of S$208 million. The bid is subject only to Toppan reaching a simple 50% majority and Toppan has already cornered 53.55% of SNPÆs shares through an agreement with SNPÆs controlling shareholder Green Dot Capital. Green Dot Capital is a 100% subsidiary of Temasek Holdings, SingaporeÆs investment holding company.

The offer price is a premium of 8% over SNPÆs last traded price on the Singapore Exchange SGX on June...

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