Friday, July 27, 2012

Heineken extends takeover offer for APB shares

SINGAPORE: Heineken has agreed to extend a takeover offer for shares in Tiger Beer-maker Asia Pacific Breweries by one week to next Friday.

The Dutch brewer had on July 20 offered to buy Fraser & Neave's interest in APB for US$4 billion (S$5.1 billion) or S$50 per APB share.

Analysts said if Heineken succeeds in its bid to take over APB, F&N will be stripped of its most attractive asset, ultimately forcing the break-up of the property, publishing and beer conglomerate.

At stake is F&N's future, which could transform the company from a food & beverages-dominated business to a property-focused firm.

View the original article here

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