Thai tycoon trumps Overseas Union bid for F&N, setting up showdown
SINGAPORE (Reuters) – Thailand’s third richest man has raised his takeover offer for Singapore’s Fraser and Neave Ltd , valuing the property and drinks conglomerate at nearly $11. 3 billion, a move to fend off a rival bid from a group run by Indonesian tycoon Stephen Riady. Thailand’s TCC Assets Ltd, headed by billionaire Charoen Sirivadhanabhakdi, increased his offer to S$9. 55 a share, above the S$9. 08 made by a consortium led by Riady’s Singapore-listed property company Overseas Union Enterprise Ltd . . . .
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