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Thai billionaire extends Fraser and Neave offer to Jan 15
January 10, 2013 / 9:14 AM / in 5 years

Thai billionaire extends Fraser and Neave offer to Jan 15

SINGAPORE, Jan 10 (Reuters) - 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)

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