Straits Trading: The Winner! Tecity!

In a surprise move, the Lees have accepted Tecity's bid for The Straits Trading Company at $6.70. Tecity now owns 33.15% of the company. With the offer slated to close in a few days time, it will be interesting to see how OCBC and GE will respond.

MYOB thinks that Tecity has played a good game of poker. From the onset, with their starting bid of $5.70 per share some two months ago, Tecity must know that this wasn't going to be easy. Ms Chew played her cards well and now she will most likely get to gain control of one of her grandfather's flagship.