SINGAPORE Jan 15 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
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
($1 = 1.2264 Singapore dollars)
(Reporting by Eveline Danubrata; Editing by Ryan Woo)