Shares of Asia Pacific Breweries jumped on Monday after Heineken NV launched a bid worth up to $7.5 billion for the Singapore maker of Tiger Beer.
APB shares were up 17% at $49.00, still below Heineken’s offer price of $50.00. Shares of Fraser and Neave were up more than 5%.
Heineken’s offer last Friday completed a frenetic week for APB and F&N, a Singapore conglomerate whose joint venture with Heineken has a 65% controlling stake in APB.
F&N said in a statement its board was considering Heineken’s offer.
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