Fraser and Neave said its board is considering an offer by Dutch brewer Heineken to buy the Singapore conglomerate’s shares in Asia Pacific Breweries.
“The board is considering the offer from Heineken, which remains open for acceptance until July 27, 2012. There is no certainty that any transaction or agreement will be entered into as at the time of this announcement,” F&N said in a statement after the close of markets on Friday.
On Friday, Heineken launched a $5.1 billion offer to buy F&N’s stake in APB and the shares it does not already own.
The Dutch brewer sought to acquire F&N’s direct and indirect stakes in APB with a $50-per-share bid compared with the $45-a-share offer proposed by companies linked to Thai tycoon Charoen Sirivadhanabhakdi for part of those holdings.
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