Fraser & Neave (F & N)

the new development if true, probably will not break the deal of ThaiBev buying F&N from OCBC/GE/Lee Rubber. does it mean that ThaiBev is buying F&N cheaper than before?

(20-07-2012, 10:14 AM)greengiraffe Wrote:

(20-07-2012, 08:50 AM)KopiKat Wrote: Trading Halt again, with APB. Becoming a daily event...

http://www.bloomberg.com/news/2012-07-20...ssets.html

S$50/share bid for Tiger before Elephant coming stomping through the door...

Yup, confirmed in SGX Annc

Will OCBC and GE management watch this latest development with red face? That they had sold their APB holdings at $45 while the lastest offer is $50?

Wtih Kirin holding 14.7% and ThaiBrev holding 22%, at least 36.% will probably vote not in favour of Heinken's offer.

Quote:The completion of the transactions will be conditional upon, inter alia, the shares of F&N and APB
not being delisted from the SGX-ST.

so OCBC and GE probably will not lose anything for their stake in APB, my guess only.

(20-07-2012, 10:53 PM)wsreader Wrote: Will OCBC and GE management watch this latest development with red face? That they had sold their APB holdings at $45 while the lastest offer is $50?

Wtih Kirin holding 14.7% and ThaiBrev holding 22%, at least 36.% will probably vote not in favour of Heinken's offer.

They shouldnt (watch with red face). Most probably, the 50dollar offer would NOT have been bought onto the table, if not for OCBC/GE selling their F&N/APB stake in the first place.

Actually, APB has long been touted as a potential takeover target (it has the classic characteristics of 2 major shareholders, stable growing biz in emerging economies etc..) but no one really knew when. Even when Kirin bought their F&N stake from Temasek, there was no action. This soap drama would indeed be a nice lesson to learnt for all those watching on the sidelines.

(21-07-2012, 09:55 AM)weijian Wrote:

(20-07-2012, 10:53 PM)wsreader Wrote: Will OCBC and GE management watch this latest development with red face? That they had sold their APB holdings at $45 while the lastest offer is $50?

Wtih Kirin holding 14.7% and ThaiBrev holding 22%, at least 36.% will probably vote not in favour of Heinken's offer.

They shouldnt (watch with red face). Most probably, the 50dollar offer would NOT have been bought onto the table, if not for OCBC/GE selling their F&N/APB stake in the first place.

Actually, APB has long been touted as a potential takeover target (it has the classic characteristics of 2 major shareholders, stable growing biz in emerging economies etc..) but no one really knew when. Even when Kirin bought their F&N stake from Temasek, there was no action. This soap drama would indeed be a nice lesson to learnt for all those watching on the sidelines.

I was very disappointed when they did that. When F&N placed out new shares to Temasek back then, I imagined that they were acquiring a strategic interest to fend off any potential takeover. But, for a quick profit, I don't see any sense of national pride or patroitism in them (maybe too many non-Singaporean decision makers there), even when we are looking at 100-yr brands... same thing last time for Raffles Hotel via Capitaland.. And the govt wonders why our citizens are becoming like them...only money talks...

Look at Khanazah. From Pantai to IHH. If I were a Malaysian, I'd be very proud... even tho' it's likely related to elections... even tho' the Turkey assets looks toxic... Still something to be proud of..

(21-07-2012, 10:22 AM)KopiKat Wrote:

(21-07-2012, 09:55 AM)weijian Wrote:

(20-07-2012, 10:53 PM)wsreader Wrote: Will OCBC and GE management watch this latest development with red face? That they had sold their APB holdings at $45 while the lastest offer is $50?

Wtih Kirin holding 14.7% and ThaiBrev holding 22%, at least 36.% will probably vote not in favour of Heinken's offer.

They shouldnt (watch with red face). Most probably, the 50dollar offer would NOT have been bought onto the table, if not for OCBC/GE selling their F&N/APB stake in the first place.

Actually, APB has long been touted as a potential takeover target (it has the classic characteristics of 2 major shareholders, stable growing biz in emerging economies etc..) but no one really knew when. Even when Kirin bought their F&N stake from Temasek, there was no action. This soap drama would indeed be a nice lesson to learnt for all those watching on the sidelines.

I was very disappointed when they did that. When F&N placed out new shares to Temasek back then, I imagined that they were acquiring a strategic interest to fend off any potential takeover. But, for a quick profit, I don't see any sense of national pride or patroitism in them (maybe too many non-Singaporean decision makers there), even when we are looking at 100-yr brands... same thing last time for Raffles Hotel via Capitaland.. And the govt wonders why our citizens are becoming like them...only money talks...

Look at Khanazah. From Pantai to IHH. If I were a Malaysian, I'd be very proud... even tho' it's likely related to elections... even tho' the Turkey assets looks toxic... Still something to be proud of..

i know it long ago. For Papys' policy is "NO Money No Talk".
Example:-
Even very insignificant things like when returning SinKaporeans at our airport (only Terminal one exist only i think at that time) were allowed to buy 6 cans of duty free beer/person; Now, we can only buy 3 cans. This was done donkeys years ago. i am sure there are many such "similar" practices if you care to dig deep into it. Then of course PaPys at times have to give you something back like the recent GST rebates for some people to show they are not so " cold & calculative' as some people think.
"NO MONEY NO TALK" is my policy.

(21-07-2012, 10:22 AM)KopiKat Wrote: I was very disappointed when they did that. When F&N placed out new shares to Temasek back then, I imagined that they were acquiring a strategic interest to fend off any potential takeover. But, for a quick profit, I don't see any sense of national pride or patroitism in them (maybe too many non-Singaporean decision makers there), even when we are looking at 100-yr brands... same thing last time for Raffles Hotel via Capitaland.. And the govt wonders why our citizens are becoming like them...only money talks...

Look at Khanazah. From Pantai to IHH. If I were a Malaysian, I'd be very proud... even tho' it's likely related to elections... even tho' the Turkey assets looks toxic... Still something to be proud of..

As a MSIAN, i was sceptical when Khanazah entered into a bidding war with Fortis back then - i thought it was paying over the roof. Now, the same folks who were responsible ARE making me eat humble pie with this IPO.
In this IPO, i am STILL sceptical - i do not understand how and why so many SWF and institutional folks are buying at such expensive valuations (over and over the roof) - Again, i guess this takes a long time for an average joe like me to understand (bigger fool theory? healthcare is the next growth frontier as asia ages?)
Deep inside, I have a (conspiracy) theory that there is some kind of 'you scratch my back, i scratch yours' deals going on.

Temasek is actually a commericially driven investor. They are NOT expected to be less efficient because of patriotism etc.

Hi Weijian,

Yet another reason not to follow the "big boys" sometimes.

They have very deep pockets and retail investors like me do not, so I cannot afford to lose money purchasing at expensive valuations.

(21-07-2012, 12:16 PM)Musicwhiz Wrote: Hi Weijian,

Yet another reason not to follow the "big boys" sometimes.

They have very deep pockets and retail investors like me do not, so I cannot afford to lose money purchasing at expensive valuations.

YES! what is the flavor of the day is usually too expensive to buy. Even if not "so expensive", there is little meat left. i don't even want to know about it's valuation in this case.