Thai's TCC Group owner raises takeover offer for Fraser and Neave
Thailand's TCC Group owner Charoen Sirivadhanabhakdi has increased the offer price to acquire Singapore's Fraser and Neave (F&N), a move to outbid rival Overseas Union Enterprise's takeover offer.
Singapore-listed property company Overseas Union Enterprise, which is run by Indonesian tycoon Stephen Riady, offered a price of S$9.08 ($7.39). However, Sirivadhanabhakdi raised his offer from S$8.88 ($7.2) per share to S$9.55 ($7.77) a share, which values property and drinks conglomerate Fraser and Neave at almost $11.3bn, reported Reuters.
According to Singapore's Securities Industry Council (SIC) rules, a formal auction will take place if neither of the firms announces a final offer.
In an effort to end the takeover battle between both the companies, which was triggered in July after Sirivadhanabhakdi acquired 22% stake in F&N from Singapore's OCBC group, SIC stepped in early this month.
F&N is considered to be a leading soft drinks firm in Malaysia and Singapore, holding over 31% and 21% share in these markets.
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Until recently, the beverages market was divided simply between alcoholic and non-alcoholic beverages. As consumers’ tastes grew more sophisticated and demand surged for a variety of beverage options catering to lifestyle changes and health concerns, the beverages industry has responded with a dizzying array of options to choose from. This report focuses on the U.S. and world markets for beverages across several broad categories. For the purposes of this study, TriMark Publications has divided the global beverages markets into the following product segments include: 1) alcoholic beverages such as wines, beers and spirits; 2) non-alcoholic beverages such as bottled water and milk; 3) brewed beverages such as coffees and teas; 4) carbonated beverages such as sodas and soft drinks; 5) non-carbonated juice products both fresh and pre-packaged; and 6) energy drinks which are generally caffeinated beverages in both carbonated and non-carbonated forms. For each market segment, this study presents the latest information on size, growth rates, sales projections and factors influencing growth in the U.S. and internationally. Buy online from $449
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