Market awaits next move in bid for F&N
- Published: 2 Jan 2013 at 15.40
- Online news:
Singapore _ The deadline for a Thai billionaire to make an improved bid for Singapore conglomerate Fraser and Neave (F&N) was due to expire Wednesday, with an Indonesian rival waiting in the wings.
TCC Assets, controlled by drinks tycoon Charoen Sirivadhanabhakdi, has until 5.30pm (4.30pm Thai time) on Wednesday to make a new offer for F&N, a diversified group with food and beverage, property and publishing operations.
F&N became a takeover target in September after selling off its most prized asset, Tiger Beer maker Asia Pacific Breweries, to Dutch giant Heineken, which beat a rival proposal from Charoen.
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