SINGAPORE: Fraser & Neave battle drags on as TCC extends deadline
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.
Datamonitor's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organ...
- Comment - Heineken's 'No' Cuts SABMiller Options
- Irish whiskey eyes a slice of Scotch's global pie
- Guinness: A Great Day for St James's Gate
- SABMiller spurned by Heineken: The start of the en
- Wines of the Beautiful South Ups its Game
- Patron Spirits' Patron Citrónge Lime
- Wm Grant CMO to head Orangina Scweppes Int'l
- Heineken rejects SABMiller purchase proposal
- Bacardi-Martini appoints Southern Europe chief
- William Grant gives Sailor Jerry pack revamp