Mogul’s $11B Bid Chases Developer From F&N Contest

Law360, New York (January 22, 2013, 6:45 PM EST) -- Hedge fund-backed developer Overseas Union Enterprise Ltd. on Monday called off the chase for Fraser & Neave Ltd., ceding the contest to a Thai billionaire who last week put up SG$13.8 billion (US$11.2 billion) for F&N's beverage, real estate and publishing businesses.

Thai Beverage PLC chief Charoen Sirivadhanabhakdi, one of Thailand's richest men, thus became the de facto winner of a two-month bidding war waged over F&N, whose leading Asian brewery Sirivadhanabhakdi tried and failed to wrest from Heineken NV this fall.

OUE's SG$9.08 a share...
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