AVIATION | Staff Reporter, Singapore

SIA to delist Tigerair as shareholders bite sweetened offer

The flag carrier hit 93.8% in acceptances.

After numerous tweaks to its offer, Singapore’s flag carrier has finally hit the 90% mark in acceptances for Tigerair with the final offer valuing the budget airline at $1.13b.

According to a press release by Singapore Airlines (SIA), Tigerair shareholders finally succumbed to a more alluring offer of 45 cents per share made last month.

This offer was up from the 41 cents per share dangled by Singapore Airlines last November.

Meanwhile, SIA’s move to sweeten the offer came last January after clamor by the Securities Investors Association of Singapore to increase the share price.

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