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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.
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Thai Beverage Accepts Heineken’s Offer on Asia Pacific Breweries
Thai Beverage Plc accepted an Heineken N.V.’s $4.5 billion offer to acquire Fraser & Neave Ltd’s 39.7 percent stake in Asia Pacific Breweries Ltd. Till the day of Thai Beverage Plc’s acceptance, its owner, Charoen Sirivadhanabhakdi was the main opponent of the Heineken N.V.’s offer.
