SINGAPORE: TCC says latest Fraser & Neave offer is "final"
TCC's chase for F&N looks to be reaching a conclusion
ThaiBev-controlled TCC Assets has said its SGD9.55-per-share bid for Fraser & Neave (F&N) is its "final" offer for the group.
TCC upped its bid for the conglomerate last week in a move to see off rival Overseas Union Enterprise (OUE). And yesterday (21 January), OUE said said it was withdrawing from the long-running bidding war.
TCC is set to pay around SGD13.75bn (US$11.2bn) for F&N, whose interests include soft drinks, food, property and publishing. TCC's offer will remain open until 4 Feburary, it said yesterday.
TCC also said that it now owns 42.5% of F&N, after acquiring 34.58m shares at SGD9.55 per share yesterday.
Meanwhile, Japanese brewer Kirin, which has a 15% stake in F&N said today that no decision has been made on what it will do with its share, it was reported. Previously, Kirin had agreed to acquire F&N's food and beverage business if OUE's bid had been successful.
- Why Arla upbeat about LatAm prospects
- M&A Watch - Could Cloetta be takeover target?
- Comment: Can Applegate retain trust under Hormel?
- How the Applegate acquisition will benefit Hormel
- Sweets & Snacks Expo: just-food's pick
- Yildiz eyeing further deals - reports
- PAI, Pamplona "eyeing Bakkavor stake"
- Heinz, Boulder face off in Smart Balance TM spat
- Weetabix gets new private-equity investor
- FrieslandCampina ends Bongrain German tie-up
- Successful New Product Development Strategies in the Food, Drinks and Personal Care Market
- ALDI 2015: Radically transforming Anglo Saxon grocery markets
- The Future of the Ice Cream Market in the United Kingdom to 2019
- Consumer Foodservice in Indonesia
- Marks & Spencer (Asia Pacific) Ltd in Retailing (Hong Kong, China)