Analysts were previously positive about the merger following the group's announcement of its EGM. In the same announcement, the group revealed its updates for its new management as well. To HSBC Global Research analyst Rahul Bhatia, the merger is the "next catalyst" for SembMarine while PhillipCapital's Paul Chew noted the clarity will remove any overhang on Keppel's share price.
Sembcorp Marine's (SembMarine) shareholders have spoken, with shareholders holding 95.3% of the total shares in the company voting for the merger between itself and Keppel Corporation's offshore & marine (O&M) arm.
The group held its extraordinary general meeting (EGM) at 11am on Feb 16.
