A consortium led by Singapore-listed property developers Perennial Real Estate Holdings and Yanlord Land Group have extended their takeover offer for United Engineers (UE) to September 12.
The earlier deadline for the closing of offer was August 29.
As on August 28, Yanlord Perennial Investment had valid acceptances from 34.65 percent of UE's common stockholders and 92.03 percent from UE's preference shareholders, it said in a statement on Monday.
Last month, the consortium made a mandatory conditional cash offer for UE at S$2.60 per share.
The consortium acquired a 10 percent stake in UE' unit WBL Corp and would additionally acquire another 19.9 percent stake in the firm.
At the offer prices, the group valued 100 percent of UE and 29.9 percent of WBL at about S$1.83 billion.
At 0355 GMT, United Engineers was unchanged at S$2.71, Yanlord Land Group was down 1 percent while Perennial Real Estate Holdings was unchanged at S$0.9.
