(Reuters) – Singapore’s Suntec Real Estate Investment Trust said on Wednesday that investment holding firm Aelios has increased the offer price to buy the REIT’s shares it does not already own, valuing Suntec at S$3.48 billion ($2.54 billion).
Aelios, owned by billionaire couple Gordon and Celine Tang, raised the offer to S$1.19 per share, up from the previous bid made in December of S$1.16 apiece.
The revised offer represents a 2.6% premium to Suntec’s close on Dec. 4. Aelios already owns about a third of the REIT.
($1 = 1.3689 Singapore dollars)
(Reporting by Sherin Sunny in Bengaluru; Editing by Shounak Dasgupta)
