The battle for Fraser&Neave(F&N)has taken another twist after Overseas Union Enterprise(OUE)extended the deadline for its SGD13.1bn(US$10.7bn)offer for the Singapore conglomerate.
In a filing yesterday(3 January),property group OUE said the closing date for its offer has been extended until 14 January.The previous deadline was yesterday.
It comes after ThaiBev-controlled TCC Assets yesterday extended its offer deadline for F&N for a fourth time to 10 January.OUE's bid tops TCC's,which is SGD9bn(US$7.36bn).
If the OUE bid is successful,Japan's Kirin Holdings has agreed to acquire F&N's food&beverage business for SGD2.7bn.
Last month,F&N's board branded OUE's offer as"not compelling,but fair".
Source:
http://www.just-food.com/news/overseas-union-enterprise-extends-fraser-neave-offer-deadline_id121632.aspx
