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Fraser and Neave turns down $1.1bn bid for its hospitality unit
Fraser and Neave Ltd (F&N) received an offer of roughly $1.1 billion for its hospitality and apartment unit. The bid was said to complicate Thai billionaire Charoen Sirivadhanabhakdi’s efforts to takeover of the conglomerate. However Fraser and Neave (F&N), the Singapore-based conglomerate, informed that it turned down a $1.1 billion offered bid from the unnamed party to buy its hospitality and serviced-residence unit.
