As expected, TCC Asset extended its closing date to the same date 21 Jan 2013 with the same offer price
Now wait till 21 Jan to see any party will rise the offer price? do or never
http://info.sgx.com/webcoranncatth.nsf/V...40031AB14/$file/ExtensionAnnouncement150113.PDF?openelement
(09-01-2013, 10:35 PM)CityFarmer Wrote: [ -> ]Finally both bidders are going to face the "Final day rule" (rule 22.9) in takeover code, the game can't be never ending story
http://info.sgx.com/webcoranncatth.nsf/V...E003D3BA6/$file/FNL-Timetable-for-Shareholders-Guidance-9.1.13.pdf?openelement
I am yet see the announcement of TCC Asset on approval of Securities Industry Council on its extension of "Final day rule", but i assume it is approved and extended. So the next end-date for both is 4th Feb which is OUE's final day, unless another competing bidder emerges.
Soon the saga will end... 
Great. I am getting tired of the extension also. Finally, some closure to this sage.
The SIC intervenes the competition between TCC Asset and OUE, to provide an orderly auction process
http://info.sgx.com/webcoranncatth.nsf/V...4005063ED/$file/FNL-Public-statement-on-Applied-Auction-Procedure_15-Jan-2013.pdf?openelement
It should be a good news to shareholders. It allows sufficient time for shareholders to consider each new bidding from either party
Getting interesting... Show starts on 20 Jan evening...
F&N share price drops below $9.50, with speculators exiting i assume.
If there should be a show, it would have started a long time ago. I think status quo remains until the end. Biggest shareholder remains Thai Bev.
TCC made its move, 9.55 is the offer price. and TCC and people acting in concert controlled around 40%.
(19-01-2013, 07:34 AM)freedom Wrote: [ -> ]TCC made its move, 9.55 is the offer price. and TCC and people acting in concert controlled around 40%.
As expected, TCC Asset is focusing on major group of shareholders. Show starts earlier, next move is OUE
Sadly, Kirin has the most to lose if it is the business it wants.
Really tough for OUE now.
SINGAPORE — Thai billionaire Charoen Sirivadhanabhakdi has boosted his takeover offer for Fraser and Neave to try to block a rival group from winning the real estate and soft-drink company.
Mr Charoen bid S$9.55 a share, according to a statement yesterday, topping a Nov 15 offer of S$9.08 a share from a group led by Overseas Union Enterprise (OUE).
The billionaire, Thailand’s richest man, agreed to buy a 22 per cent stake in F&N in July, sparking a fight for assets extending from serviced apartments to beverages.
Mr Charoen’s TCC bought a further 6.3 per cent of F&N and now either owns or has acceptances for 39.94 per cent of the shares.
An auction process will kick off after the weekend if neither bidder has said its offer is final. If one or the other indicates its proposal is final by Jan 20, the deal will be decided through a shareholder vote.
If either group wishes to raise its offer after that date, it must submit the bid to the Securities Industry Council.
The rival will have time to respond. Bloomberg
finally show hand liao~