OUE-led group, Thais battle for Fraser and Neave

A consortium led by Overseas Union Enterprise Ltd launched a S$13.1 billion (US$10.7 billion) bid for Fraser and Neave Ltd (F&N), trumping a takeover offer from Thailand’s third-richest man for the Singapore conglomerate.

The consortium’s counter bid sets the stage for a showdown between it and the Thais as it seeks to unlock value in the Singapore conglomerate, which owns a property portfolio worth more than S$8 billion, as well as a range of other businesses including popular soft drinks in Singapore and Malaysia.

via Business feed http://www.scmp.com/business/companies/article/1083713/oue-led-group-thais-battle-fraser-and-neave