SINGAPORE Jan 19 Thai billionaire Charoen
Sirivadhanabhakdi raised his offer for Fraser and Neave Ltd
(F&N) to S$9.55 per share, valuing the Singapore
property and drinks firm at nearly S$13.8 billion ($11.3
billion), to fend off a rival bid.
Companies linked to Charoen, TCC Assets Ltd and Thai
Beverage PLC acquired 90.8 million shares or 6.3
percent stake in F&N at S$9.55 each, raising their total stake
to 40.45 percent, including acceptances from shareholders, TCC
Assets said in a statement released in the early hours of
Charoen's previous offer was S$8.88 per share.
A group led by Singapore property firm Overseas Union
Enterprise Ltd made a S$9.08-per-share counterbid for
F&N in November.