OUE bids S$13.1 billion for Singapore's F&N, tops Thai offer
(Reuters) - Overseas Union Enterprise Ltd (OVES.SI) launched on Thursday a S$13.1 billion ($10.71 billion) offer for Singapore property and drinks conglomerate Fraser and Neave Ltd (FRNM.SI), trumping a bid from Thailand's third-richest man.
OUE, a hotel and property firm controlled by Indonesia's Lippo Group, said it would pay S$9.08 for each F&N share, bettering the Thai's S$8.88 per share offer.
($1 = 1.2227 Singapore dollars)
(Reporting by Sayantani Ghosh in Bangalore; Editing by Saumyadeb Chakrabarty)