Great Eastern Plans Delisting With $700 Million OCBC Bid

Great Eastern Holdings Ltd. is seeking to delist with an improved S$900 million ($700 million) bid from Oversea-Chinese Banking Corp. for the rest of the shares it does not currently own, marking the fourth attempt by the Singapore lender to take full control.

OCBC is offering S$30.15 a share for the 6.28% of Great Eastern it doesn’t own, the city-state’s second-largest bank said in a statement Friday, confirming an earlier Bloomberg News report of the higher offer. The price is final and OCBC has no intention of making another bid in the foreseeable future, it said.