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.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

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.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now