SINGAPORE: Heineken forced to wait for 100% of Asia Pacific Breweries
Heineken has faced a long battle for APB
Heineken has extended the deadline on its offer for the final slice of Asia Pacific Breweries (APB).
The offer, which was due to close today (8 January) has been pushed back to 18 January, Heineken said. No reason was given for the extension.
The Dutch brewer last month made a mandatory unconditional cash offer of SGD53 (US$43) per share for the 12.2m shares in APB it does not already own.
As of yesterday, Heineken had a 99.34% stake in APB, up from 96.3% on 4 December when it made the cash offer. The company will delist APB once it takes full ownership.
Heineken completed its acquisition of JV partner Fraser & Neave's stake in APB last month.
The Dutch brewer previously faced a battle for APB from ThaiBev, owned by Thai billionaire Charoen Sirivadhanabhakdi. ThaiBev agreed to the takeover in September.
The drinks sector is particularly fertile ground for mergers and acquisition activity, with a number of big businesses accustomed to making acquisitions to spur growth, new players popping up all over...
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