Singapore's F&N shares jump after OUE says considering counteroffer
SINGAPORE Oct 19 (Reuters) - Shares of Fraser and Neave Ltd , a takeover target of a Thai billionaire, jumped more than 2 percent on Friday after hotel and property firm Overseas Union Enterprise Ltd said it is considering making a counteroffer for the company.
F&N shares rose as high as S$9.14 after a trading halt was lifted, above the Thai offer of S$8.88 per share.
OUE is in early talks with Japan's Kirin Holdings to be partners for a takeover bid for F&N, two sources with direct knowledge of the matter said.
The surprise move by OUE on the drinks and property group may force the Thais to raise their offer, which F&N's board has described as "not compelling but fair." (Reporting by Eveline Danubrata)
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