RE Developer's $11B Offer For Singapore's F&N Tops Thai Bid

Law360, New York (November 15, 2012, 1:49 PM EST) -- A consortium led by real estate developer Overseas Union Enterprise Ltd. on Thursday unveiled an SG$13.2 billion (US$10.7 billion) takeover offer for Singapore conglomerate Fraser & Neave Ltd., besting an earlier bid from one of Thailand's richest men.

Under OUE's proposed terms, F&N shareholders will receive SG$9.08 in cash for each unit, providing a heftier premium than billionaire Charoen Sirivadhanabhakdi's SG$8.88 per-share proposal. F&N has proved a sought-after target, mainly thanks to a property portfolio worth more than $8 billion. The company also has a food...
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