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Business/Financial

Singapore’s ST Engineering Attempting To Outbid Veritas, Evergreen For Cubic

By Cal Biesecker

Monday, March 22nd, 2021

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Singapore’s ST Engineering Attempting To Outbid Veritas, Evergreen For Cubic

Cubic's 2.4 meter GATR inflatable satellite terminal. Photo: Cubic.

Cubic Corp. [CUB] on Monday said it has received an unsolicited acquisition offer from Singapore’s ST Engineering (STE) priced at $76 per share, a proposal the company says would be “superior” to a $70 bid it already agreed to in February from the private equity firms Veritas Capital and Evergreen Coast Capital. Terms of the potential deal with STE, which has not been agreed to, would include STE selling Cubic’s defense business to the investment firm Blackstone Tactical Opportunities. Cubic…

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