Months after Singapore Airlines (SIA) launched a takeover offer for Tiger Airways, the budget airline will now be absorbed into the folds of the national carrier.
Since November last year, SIA went on a speedy trajectory towards taking full control of Tiger Airways, intending to delist and privatise it. Early last month, SIA's stake in Tiger Airways rose to over 90 percent — later on, they announced that they acquired more than 95.6 percent of the budget carrier.
The level allows for compulsory acquisition of all of Tiger Airway's outstanding shares. And since offer for the shares SIA doesn't already own is closing today, the budget carrier will be fully absorbed.