A Thai group on Thursday made an offer for Singapore's Fraser and Neave (F&N) group, the parent of an Asian brewer about to be taken over by Dutch giant Heineken.
Thai Beverage, controlled by billionaire Charoen Sirivadhanabhakdi, and its partner TCC Assets, also controlled by Charoen, said in a statement they were offering Sg$8.88 per share for the 70 percent of F&N shares they do not own.
The offer, worth Sg$8.7 billion ($7.1 billion), came two weeks ahead of a general shareholders' meeting called by the F&N board to approve Heineken's Sg$5.6 billion offer for F&N's 40 percent stake in APB. Heineken already owns 42 percent of the brewer.