The tussle for F&N is continuing

The tussle for F&N is continuing

ThaiBev's TCC Assets, has extended its offer deadline for Fraser & Neave for a fifth time. 

In a filing today (10 Janaury), TCC, owned by Thai billionaire Charoen Sirivadhanabhakdi, said it has set a new deadline of Tuesday (15 January) for its SGD9bn (US$7.36bn) bid for the Singapore conglomerate. The previous deadline was today.

Sirivadhanabhakdi, who holds a 35% stake in F&N, is battling with Singapore property group Overseas Union Enterprise (OUE) for the conglomerate.

OUE has submitted a higher bid of SGD13.1bn (US$10.7bn) and last week extended its offer deadline until next Monday (14 January).

If the OUE bid is successful, Japan's Kirin Holdings has agreed to acquire F&N's food & beverage business for SGD2.7bn.