Heineken may raise bid for APB
Singapore's Fraser and Neave (F&N) and Asia Pacific Breweries (APB) have requested share trading suspension today, leaving the markets to speculate on some major changes which could involve an increase in Heineken's bid for stakes in APB.
Both F&N and APB did not reveal the reason why they requested for the suspension, but Bloomberg quoted people familiar with the issue as saying that Heineken is prepared to raise its bid from US$6 billion.
APB, which makes Tiger Beer, is the target of a takeover battle between Dutch brewer Heineken and companies linked to Thai billionaire Charoen Sirivadhanabhakdi.
The revised offer may include a condition that requires F&N to reject a separate bid for its 7.3 percent direct stake in APB from Kindest Place Groups, a company linked to Charoen who owns a majority stake in Thai Beverage.
It has been speculated that Heineken would raise the bid, as ThaiBev earlier this week announced that it has built up the stake in F&N to 26 per cent.
F&N owns 40 per cent of APB - the maker of Tiger and Anchor beers, among others - while Heineken, the world's third-biggest brewer, holds a 42 per cent stake.
