F & N    Last:1.23   -

F&N

if I am TB, I also want to takeover FNN because:
1) TB will sell APB to Heineken, thus gaining $4B (amount that FNN want to distribute back to shareholders), the rest $1.6B to return debt, blah, blah...
2) TB paid $3.6B to get hold of 29% FNN, so if I takeover the whole of FNN, the above $4B is mine now, so effectively I am gaining 29% FNN for FREE
3) A concerted 3rd party will bankroll the $9B to takeover the remaining FNN, but what's the leftover value of FNN?
4) Some analysts value the Property biz at around $8B, the dairy biz around $3B so total is $11B
5) if TB is corporate raider, it may tear apart the biz and sell them separately and earn a cool $2B, which is 33% of his personal wealth estimated at around $6B

will TB launch a takeover? Personally I think 99% yes.

 

i think it's the war news over FA over TA..

i believe most ppl agree that it's because of conglo war that pushes the price of this ship up..

 

cashiertan      ( Date: 11-Sep-2012 15:06) Posted: F& N is classic and rare cases of FA over TA.

 

F& N is classic and rare cases of FA over TA.

 

From UOB regional morning news....slight variation of fact as stated in SGX

STOCKS TO WATCH -- THAI BEVERAGE PCL , FRASER AND NEAVE LTD

- Thai Beverage said it may work with a partner to make an offer for
Fraser and Neave, which could potentially thwart moves
by Dutch brewer Heineken to take fullcontrol of Tiger Beer maker Asia
Pacific Breweries .
- My reading is dont sell any of your FNN..... ride with the thaibev  boss who is a true blue businessman, not helicopter in like most  Spore chairman and CEO.....    He will win the battle. After getting your money at the end,  buy into ThaiBev stock ...tgt  is 60cents.

infancybird      ( Date: 11-Sep-2012 08:45) Posted: Thai bev board announced this morning(SGX 1:52am 11th sept)  that a party who is actng in concert with the company is making a general offer for FNN. Just need to wait for FNN to make announcement of such intent to know more details. Hence the rumour is confirmed.  My plan....Hold tight to my shares to ride the rise and assets split.

 

Me too will still hold on, breaking new high soon.

 

Thai bev board announced this morning(SGX 1:52am 11th sept)  that a party who is actng in concert with the company is making a general offer for FNN. Just need to wait for FNN to make announcement of such intent to know more details. Hence the rumour is confirmed.  My plan....Hold tight to my shares to ride the rise and assets split.

 

Btw should be THbev....ha.

shadowmoon      ( Date: 10-Sep-2012 23:01) Posted: U have yr point also. Bro But what i see is that it seems more likely that THDev want to eat up F& N so as to get more profit from the APB deal. ThDev will not try stop the APB deal. As they know the consequence also. THDev is up to something...they are smart. Let see how the story end..... Cheers bro.  lucky168      ( Date: 10-Sep-2012 22:44) Posted: no offence too... but look at the past few weeks of TB price, it's not gonna move anywhere. coupled with the fact that it will be burdened with a huge loan from this tussle with Heineken. buy the prey for quick gain, not the predator.

 

U have yr point also. Bro

But what i see is that it seems more likely that THDev want to eat up F& N so as to get more profit from the APB deal.

ThDev will not try stop the APB deal. As they know the consequence also.

THDev is up to something...they are smart. Let see how the story end.....

Cheers bro. 

lucky168      ( Date: 10-Sep-2012 22:44) Posted: no offence too... but look at the past few weeks of TB price, it's not gonna move anywhere. coupled with the fact that it will be burdened with a huge loan from this tussle with Heineken. buy the prey for quick gain, not the predator.

 

no offence too... but look at the past few weeks of TB price, it's not gonna move anywhere.

coupled with the fact that it will be burdened with a huge loan from this tussle with Heineken.

buy the prey for quick gain, not the predator.

 

just sharing...no offence bro.

 

Rule #2: Don't be fool by market......n follow blindly.

Understanding the whole situation will work better. 

 

Rule #1: Mr.Market is always right.

Read & follow the trend.

 

should concentrate on Thdev instead than F& N.

Even if THdev didn't make thr the deal to eat up F& N, it will still gain upper hand.

As it will profit from Henenken deal....(although that not what they want)

 

But if THDev fail to eat up F& N, F& N share price will drop bk to square one...risker..ha

 

 

HONG KONG/SINGAPORE - Thai Beverage PCL is seeking a loan of around S$9 billion ($7.3 billion) to fund a possible takeover of Singapore drinks-and-property group Fraser and Neave Ltd (F& N) in a deal that will give it the right to block rival Heineken NV's bid for F& N's key beer business.

The move comes as F& N shareholders, which include Japan's Kirin Holdings, prepare for a crucial vote on Sept. 28 on the proposed sale of a 40 per cent stake in Tiger beer maker Asia Pacific Breweries Ltd to Heineken. Buying out F& N would give ThaiBev, already F& N's biggest shareholder, the management control it needs to scuttle the deal.

ThaiBev, controlled by billionaire Charoen Sirivadhanabhakdi, has asked several lenders, including Singapore, Malaysian and Japanese banks, to submit financing proposals for a bridge loan, said Basis Point, a Reuters publication, citing banking sources that it did not identify.

 

The hotter the better......

lucky168      ( Date: 06-Sep-2012 09:35) Posted: F& N share price treading lower by the day - a sign of market no confidence that the vote will pass in EGM? IMHO, Kirin will vote for the sale.

 

F& N share price treading lower by the day - a sign of market no confidence that the vote will pass in EGM?

IMHO, Kirin will vote for the sale.

 

Yum yum yum........sing:)

1419242      ( Date: 31-Aug-2012 00:15) Posted: Thais ready for bigger gulp of Tiger Thai beer mogul Charoen Sirivadhanabhakdi has worked out a way to chug down even more of Heineken's cash. His company, Thai Beverage, has again hiked its stake in Singapore's Fraser & Neave (F& N). It may look as if Mr Charoen is still hoping to block Heineken's US$10.9 billion (S$13 billion) offer for Asia Pacific Breweries (APB). But it is more likely that he is angling for a larger share of the Dutch brewer's payout. ThaiBev's latest sip of F& N - it paid roughly US$250 million for an additional 2.6 per cent of shareholding - brings its overall holding to roughly 29 per cent. That leaves it just below the 30 per cent threshold at which Singapore rules would require it to launch a bid for the whole company. It may look like Mr Charoen and his family are still hoping to thwart Heineken's purchase of F& N's 40 per cent interest in APB. After all, his son-in-law, Mr Chotiphat Bijananda, previously bought an 8 per cent direct stake in the Singapore brewery, and offered F& N a higher price for its APB shares. If Mr Charoen was able to persuade other F& N shareholders - including Japan's Kirin, which owns 15 per cent - to join forces, they could reject Heineken's offer, or try to squeeze an even higher price out of the Dutch brewer. That seems risky, and unlikely. If Heineken walks away, shares of both F& N and APB could drop to pre-deal levels, leaving the Thais nursing a 22 per cent paper loss on their highly leveraged, US$3.6-billion investment. A more plausible explanation is that F& N looks undervalued. The company has pledged to distribute most of the US$4.3 billion proceeds of the APB sale to its shareholders, which means ThaiBev should soon recoup a chunk of its latest investment. Moreover, a Breakingviews analysis shows that F& N's current market capitalisation is still well below the value of its various businesses. That argues for breaking it up - a process that the ABP sale may well accelerate. Now that they've cracked open Tiger beer, the Thais are preparing to take a bigger gulp.

 

F & N's management just don't get it!!!!!  Mr Mano Sabnani's suggestion is far more superior than their share cancellation plan even though both have exactly the same accounting effect.  In addition, F & N's plan requires rounding up odd lot, additional trading counter for odd lot etc etc...  Sometimes, it is ok just to admit you are wrong and follow the simpler way....

 

Thais ready for bigger gulp of Tiger

Thai beer mogul Charoen Sirivadhanabhakdi has worked out a way to chug down even more of Heineken's cash. His company, Thai Beverage, has again hiked its stake in Singapore's Fraser & Neave (F& N). It may look as if Mr Charoen is still hoping to block Heineken's US$10.9 billion (S$13 billion) offer for Asia Pacific Breweries (APB). But it is more likely that he is angling for a larger share of the Dutch brewer's payout. ThaiBev's latest sip of F& N - it paid roughly US$250 million for an additional 2.6 per cent of shareholding - brings its overall holding to roughly 29 per cent. That leaves it just below the 30 per cent threshold at which Singapore rules would require it to launch a bid for the whole company. It may look like Mr Charoen and his family are still hoping to thwart Heineken's purchase of F& N's 40 per cent interest in APB. After all, his son-in-law, Mr Chotiphat Bijananda, previously bought an 8 per cent direct stake in the Singapore brewery, and offered F& N a higher price for its APB shares. If Mr Charoen was able to persuade other F& N shareholders - including Japan's Kirin, which owns 15 per cent - to join forces, they could reject Heineken's offer, or try to squeeze an even higher price out of the Dutch brewer. That seems risky, and unlikely. If Heineken walks away, shares of both F& N and APB could drop to pre-deal levels, leaving the Thais nursing a 22 per cent paper loss on their highly leveraged, US$3.6-billion investment. A more plausible explanation is that F& N looks undervalued. The company has pledged to distribute most of the US$4.3 billion proceeds of the APB sale to its shareholders, which means ThaiBev should soon recoup a chunk of its latest investment. Moreover, a Breakingviews analysis shows that F& N's current market capitalisation is still well below the value of its various businesses. That argues for breaking it up - a process that the ABP sale may well accelerate. Now that they've cracked open Tiger beer, the Thais are preparing to take a bigger gulp.

 

A lot of things could happen from now till EGM... but with thai bev at 29% and kirin 15%...very interesting to see the outcome... my take is thai bev will vote against the takeover but kirin and the rest of the fund management houses  will vote for the purchase...