Arab Today, arab today thai tycoon raises bid for fn
Last Updated : GMT 23:20:37
Arab Today, arab today
Arab Today, arab today

Thai tycoon raises bid for F&N

Arab Today, arab today

Arab Today, arab today Thai tycoon raises bid for F&N

Singapore - AFP

A Thai billionaire early Saturday raised his bid for Singapore's Fraser and Neave (F&N), topping an offer by an Indonesian rival ahead of a planned auction of the conglomerate next week. In a press release issued at midnight, TCC Assets -- controlled by Thai billionaire Charoen Sirivadhanabhakdi -- said it was increasing its offer for F&N shares it does not own from Sg$8.88 ($7.24) a share to Sg$9.55. TCC's latest Sg$13.75 billion offer trumped the Sg$13.1 billion, or Sg$9.08 per share, bid tabled by property firm Overseas Union Enterprise (OUE) in mid-November. However, TCC's new offer is lower than F&N's closing price of Sg$9.58 per share on Friday. OUE is controlled by Indonesia's Lippo Group, whose founder is Indonesian tycoon Mochtar Riady. His son Stephen is OUE's executive chairman. F&N became a takeover target in September after selling off its most prized asset, Tiger Beer maker Asia Pacific Breweries, to Dutch brewer Heineken. A takeover contest between the Thai and Indonesian tycoons has dragged on since then, with both parties seeking several extensions of deadlines to submit their final offers. The impasse prompted stock market watchdog Securities Industry Council (SIC) to call for an auction, saying that investors needed certainty with regards to the competing offers. TCC's higher offer is unlikely to derail the auction scheduled to commence on Monday unless one party withdraws its bid. Both parties will still be able to table fresh bids, with OUE under pressure to top TCC's new offer. Under the auction rules set by SIC, a daily bidding process will take place from Monday until one party gives up. F&N shareholders had reacted coolly to the original bids, hoping for the offers to be increased.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today thai tycoon raises bid for fn Arab Today, arab today thai tycoon raises bid for fn

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Leader Omar Abdel Rahman dies in US prison

GMT 19:00 2017 Sunday ,19 February

Leader Omar Abdel Rahman dies in US prison
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday