Thai tycoon Charoen Sirivadhanabhakdi has extended his $8.88 per share offer for majority control of Fraser and Neave (F&N) by another week.
Shareholders of F&N now have until the close of Jan 10 to accept Charoen’s offer, which is lower than the $9.08 bid by a consortium led by property developer Overseas Union Enterprise (OUE).
F&N stock closed at $9.67 on Monday, down 0.3% or 3 cents, ahead of the announcement.
OUE is expected to also extend its offer when it lapses on Thursday without raising its price.
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