Thai tycoon extends F&N offer to final deadline of Jan 21
SINGAPORE Jan 15 (Reuters) - Thai billionaire Charoen Sirivadhanabhakdi extended his $7.2 billion offer to take over Singapore property and drinks conglomerate Fraser and Neave Ltd (F&N) for the seventh time, to Jan. 21.
Jan. 21 is the final deadline for both the Thais and a group led by Overseas Union Enterprise Ltd to raise their respective offers, according to Singapore takeover rules.
The Overseas Union group made its S$13.1 billion ($10.68 billion), or S$9.08-per-share, counterbid for F&N in November, higher than the Thais' S$8.88-a-share offer to acquire F&N shares that they did not already own.
Charoen is F&N's largest shareholder with a 34 percent stake, held through Thai Beverage PCL and TCC Assets Ltd.
Kirin Holdings Co Ltd, F&N's second-biggest shareholder with around 14.8 percent, has given its conditional support to the Overseas Union group.
The Japanese brewer will offer to buy F&N's food and beverage business for S$2.7 billion if the group's bid is successful. ($1 = 1.2264 Singapore dollars) (Reporting by Eveline Danubrata; Editing by Ryan Woo)
- U.S.'s Kerry expresses regret to India over diplomat case |
- Mega Millions winners in Georgia, California to split $648 million |
- Washington, DC city council raises minimum wage to $11.50/hr in 2016
- China confirms near miss with U.S. ship in South China Sea
- Fed cuts bond buying in first step away from historic stimulus |