F&N likely in focus on takeover bid deadline

F&N is likely to be in focus as the deadline for accepting TCC Assets $8.88/share takeover bid is today; potential rival suitor OUE is also likely to be in the spotlight.

“The Thais are banking on OUE failing to launch a rival bid, as they themselves have not improved their $8.88 current offer. Should OUE fail to come up with a deal, through lack of funding or big-name partners, it will leave egg on their faces and some panic among F&N shareholders that the share price might slide back towards $8.88,” says Justin Harper, market strategist at IG Markets Singapore, in a note.

F&N is flat at $9.21. OUE is down 1.5% at $2.56.