AusRAIL, Market Sectors

Toll offer for SembLog goes unconditional

<p>Toll Holdings opened its offer for SembCorp Logistics yesterday (Monday, March 20), with SembCorp Industries immediately accepting the offer for its 60% shareholding and sending the offer unconditional.</p> <p>Toll will now offer S$1.70 per share for the outstanding shares, rising to S$1.80 if the acceptances rise past 90% and trigger compulsory acquisition.</p> <p>Toll said that it would prefer 100% control but that this was not imperative. Full control at S$1.80 per share would value the company at S$1.4bn.</p> <p>Meanwhile, a Pacific National board meeting is due to be held today (Tuesday, March 21). </p> <p>The agenda is not known, but Patrick said on Friday (March 17) that it would begin its claim over half of Pacific National’s inter-capital and Queensland intermodal space on wholesale terms, which it said was permissible under clauses in the shareholder agreement. </p> <br />