Thai Billionaire Ups Ante For F&N To $11B

Law360, New York (January 18, 2013, 9:26 PM ET) -- A Thai billionaire again turned up the heat in the bidding war over Fraser & Neave Ltd. on Friday, raising his offer for the Singaporean conglomerate, which includes attractive food and beverage and real estate units, to approximately SG$13.8 billion (US$11.2 billion).

The SG$9.55-per-share bid from TCC Assets Ltd., one of several companies controlled by Thai mogul Charoen Sirivadhanabhakdi and his relatives, edges out a competing offer from hedge fund-backed real estate developer Overseas Union Enterprise Ltd.

In November, OUE Baytown Pte. Ltd. floated an SG$9.08...
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