Reuters logo
Thai tycoon raises Fraser and Neave offer price to S$9.55/share
January 18, 2013 / 4:26 PM / in 5 years

Thai tycoon raises Fraser and Neave offer price to S$9.55/share

SINGAPORE, Jan 19 (Reuters) - 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 Saturday.

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.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below