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| Name | Symbol | Market | Type |
|---|---|---|---|
| Kirin Holdings Company Limited (PK) | USOTC:KNBWY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.04 | -0.31% | 12.88 | 12.82 | 13.00 | 12.98 | 12.8475 | 12.87 | 191,268 | 21:02:10 |
From Jun 2019 to Jun 2024
SINGAPORE--Fraser & Neave Ltd. (F99.SG) has appointed J.P. Morgan to advise on a $10.6 billion takeover offer from Overseas Union Enterprise Ltd. (LJ3.SG).
Fraser & Neave's independent directors will issue a recommendation on the bid to shareholders by Dec. 20, after receiving advice from J.P. Morgan, the company said in a statement late Wednesday.
OUE is a Singapore-based property developer owned by Indonesia's Riady family. It is offering 9.08 Singapore dollars ($7.44) for each Fraser & Neave share it doesn't own, topping the S$8.88/share offer by companies linked to Thai tycoon Charoen Sirivadhanabhakdi.
Fraser & Neave is a Singaporean real-estate and soft-drinks company, which recently parted ways with its most visible asset--a joint venture with Heineken N.V. (HEIA.AE) brewing Tiger beer.
Mr. Charoen owns about 34.7% of Fraser & Neave through entities Thai Beverage PCL (Y92.SG) and unlisted TCC Assets. His offer expires Jan. 2.
OUE is making its offer with investment funds and accounts managed by Farallon Capital Management LLC and Noonday Global Management Ltd. It also has the support of Japan's Kirin Holdings Co. (2503.TO), the second-largest shareholder in Fraser & Neave with a 14.77% stake.
OUE and its partners hold a 14.81% stake. Their offer expires Jan. 3.
Write to Chun Han Wong at chunhan.wong@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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