Thais win F&N battle as OUE pulls out

[Confuseous]

Thai tycoon Charoen Sirivadhanabhakdi has emerged as the winner of the Fraser and Neave (F&N) takeover battle after rival Overseas Union Enterprise (OUE) pulled out on Monday.

"The board together with the offeror is of the view that in order to secure the more than 50 per cent acceptances for the offer to become unconditional, the offeror would need to significantly increase the offer price to a level which is no longer as attractive to OUE, in particular, given the potential impact of the recent measures taken by the Singapore government in relation to the property market," OUE said in a statement.

"OUE is a disciplined investor and at all times acts in the best interests of OUE and its shareholders. Accordingly, the board of OUE has decided that it is in the best interests of OUE and OUE shareholders that the offeror not revise the offer price."

The 6pm regulatory deadline passed on Monday for OUE to raise its S$9.08 per share offer for F&N with no word from the property developer.

That ended a regulator-mandated auction for control of F&N, with Mr Charoen's S$9.55 per share offer as the highest bid on the table.

BT report

 

[TuaGow]

while ang moh take over sinkie tiger beer, the thais are taking over sinkie land and property.

 

[laksaboy]

Guess who's on the F&N board of directors?

http://www.fraserandneave.com/FN_aboutus_board_directors.asp

 

[AsusTek]

Guess who's on the F&N board of directors?

Sell country thief.

 

[palden]

We buy their beer now it is payback time.

 

[johnny333]

Sell country thief.

A deal of this size needs the approval of the Royal family. They will of course stand to gain from this deal $$$$$

 

[Narong Wongwan]

Sell country thief.

He is the 卖国贼 while the sis in law is the 败国贼....

 

[syed putra]

heineken and the Thais paid too much for these companies.
Expect higher prices for Tiger, soft drinks and properties as they try to pay their way out of the debacle.

 

[TuaGow]

heineken and the Thais paid too much for these companies.
Expect higher prices for Tiger, soft drinks and properties as they try to pay their way out of the debacle.

every sinkie are going to pay and pay for higher beer and soft drink price so that these foreign trash can make more money. sucks!