By Cara Lombardo

A bidding war has erupted around defense- and transit-technology company Cubic Corp., which had agreed to sell itself to a pair of private-equity firms before a new corporate suitor surfaced last week.

Veritas Capital and the private-equity arm of Elliott Management Corp. in February agreed to pay $70 a share to take Cubic private. Singapore Technologies Engineering Ltd. then made an unsolicited bid of $76 last week.

Since then, the private-equity duo raised its bid to $72 a share, and ST Engineering responded by boosting its offer to $78, according to people familiar with the matter. Neither of those bids has previously been reported.

Cubic shares closed Friday at $74.80.

(More to come)

Write to Cara Lombardo at cara.lombardo@wsj.com

(END) Dow Jones Newswires

March 29, 2021 14:50 ET (18:50 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Singapore Tech Engineering (PK) (USOTC:SGGKY)
과거 데이터 주식 차트
부터 12월(12) 2024 으로 1월(1) 2025 Singapore Tech Engineering (PK) 차트를 더 보려면 여기를 클릭.
Singapore Tech Engineering (PK) (USOTC:SGGKY)
과거 데이터 주식 차트
부터 1월(1) 2024 으로 1월(1) 2025 Singapore Tech Engineering (PK) 차트를 더 보려면 여기를 클릭.