Dutch brewer Heineken has agreed to extend a takeover offer for shares in Tiger Beer-maker Asia Pacific Breweries by one week, Singapore conglomerate Fraser and Neave said on Friday.
Heineken had on July 20 offered to buy F&N's interest in APB for $5.1 billion or $50 per APB share.
“The company wishes to announce that it has reached a mutual agreement with Heineken to extend the deadline for acceptance of the Heineken offer by one week from July 27, 2012,” F&N said in a statement.
Heineken said in a separate media release “it continues to believe that the offer represents compelling value for F&N shareholders and APB's minority shareholders”.
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