When is a takeover not a takeover?

Enter the Jardine group. It announced yesterday a takeover of Singapore''s Cycle & Carriage รป but it did so in the genuine hope that the offer would fail.
November 22, 2000

Confused? It's all thanks to Singapore's securities regulations that state a mandatory offer must be made whenever a shareholder goes over 25%. Jardine Strategic previously owned 24.98% of the Singapore car group, but now wants to increase it stake.

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