OCBC is offering S$900 million to fully acquire Great Eastern, leading to a potential delisting. The offer, 17.8% higher than the last, requires 75% minority shareholder approval, or a bonus issue will be proposed to restore the free float.

• OCBC currently owns 93.72% of Great Eastern.
• EY deems the S$30.15/share offer fair and reasonable.
• Delisting is conditional; a bonus issue is the alternative.