SINGAPORE Jan 10 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 sixth time until Jan. 15.
Charoen is F&N's largest shareholder with a 34 percent
stake, held through Thai Beverage PCL and TCC Assets
Ltd. The tycoon is trying to raise his stake to more than 50
percent to foil a rival bid by a group led by Singapore-listed
Overseas Union Enterprise Ltd.
The Overseas Union group made a S$13.1 billion ($10.7
billion) counterbid for F&N in November. At S$9.08 per share, it
was higher than the Thais' S$8.88 offer in September to acquire
F&N shares they did not already own.
The Overseas Union group has extended its offer to Jan. 14.
(Reporting by Eveline Danubrata; Editing by John O'Callaghan)