, Thai billionaire Charoen closer to F&N takeover as OUE backs down
After all, it seems that the long battle for Fraser & Neave Ltd. is over. Apparently, a group led by Overseas Union Enterprise Ltd. decided to withdraw from the race as it did not increase its bid to match Thai billionaire Charoen Sirivadhanabhakdi’s offer of $11.2 billion for the Singapore-listed property and beverage company. Thailand’s third richest man needs only to gain the shareholders’ and regulatory approvals for his bid of S$9.55 per share for Fraser & Neave Ltd.
