Fraser & Neave (F & N)

[darrenyc]

hi F&N's dividend XD date is the 01/02/13. am I correct to say that I can submit the FAA doc after the 1st and before the 4th to both accept TCC's offer and still get the dividend?

if this is the case, won't it make sense to load up on the shares as well?
pls kindly enlighten me thanks

[CityFarmer]

hi F&N's dividend XD date is the 01/02/13. am I correct to say that I can submit the FAA doc after the 1st and before the 4th to both accept TCC's offer and still get the dividend?

if this is the case, won't it make sense to load up on the shares as well?
pls kindly enlighten me thanks

The offer price paid before record date is $9.55, after then is $9.55-$0.12=$9.43

Do you think it make sense to load-up now?

[darrenyc]

hi F&N's dividend XD date is the 01/02/13. am I correct to say that I can submit the FAA doc after the 1st and before the 4th to both accept TCC's offer and still get the dividend?

if this is the case, won't it make sense to load up on the shares as well?
pls kindly enlighten me thanks

The offer price paid before record date is $9.55, after then is $9.55-$0.12=$9.43

Do you think it make sense to load-up now?

as long as the offer is submitted on the 4th before 530pm, the offer price is still 9.55 isn't it.

[CityFarmer]

hi F&N's dividend XD date is the 01/02/13. am I correct to say that I can submit the FAA doc after the 1st and before the 4th to both accept TCC's offer and still get the dividend?

if this is the case, won't it make sense to load up on the shares as well?
pls kindly enlighten me thanks

The offer price paid before record date is $9.55, after then is $9.55-$0.12=$9.43

Do you think it make sense to load-up now?

as long as the offer is submitted on the 4th before 530pm, the offer price is still 9.55 isn't it.

I quotes the following from TCC Asset's revised offer letter

"In the event any dividend, other distribution and/or return of capital has been paid by the Company to a Shareholder who accepts the F&N Offer, the Revised Offer Price payable to such accepting Shareholder shall be reduced by an amount which is equal to the amount of such dividend, other distribution and/or return of capital paid by the Company to such accepting Shareholder"

In other words, it is not a "lobang" to profit

[CityFarmer]

The dealing disclosure of TCC Asset, another 7.4 million shares acquired on 28 Jan, out of transacted volume of 7.5 million shares

http://info.sgx.com/webcoranncatth.nsf/V...2000D1340/$file/DealingsAnnouncement290113.pdf?openelement

Current holding 46.13%, rate of accumulation is accelerating...

[lonewolf]

The offer is still conditional since the min level of 50% has not been reached.

TCC still need another 3.87% or 5,5578,840 shares.

Considering that TCC started with 30.36% when it launched it offer back in Sep 12, it has since only acquired or received another 15.77%. The offer lapsed on 4 Feb 2013 if it does not become unconditional. So can they buy enough to push it through? I dun think they can buy higher than $9.55 from the open market, so if there remain sufficient F&N shareholders that does not tender their shares to TCC and sell in the open market, TCC may not win control of F&N after all. (Not vested)

[edragon]

I think their friends can buy higher than 9.55 and fill up the form to make up 50% + 1 share.

[CityFarmer]

The offer is still conditional since the min level of 50% has not been reached.

TCC still need another 3.87% or 5,5578,840 shares.

Considering that TCC started with 30.36% when it launched it offer back in Sep 12, it has since only acquired or received another 15.77%. The offer lapsed on 4 Feb 2013 if it does not become unconditional. So can they buy enough to push it through? I dun think they can buy higher than $9.55 from the open market, so if there remain sufficient F&N shareholders that does not tender their shares to TCC and sell in the open market, TCC may not win control of F&N after all. (Not vested)

The current holding is mostly acquired from open market, only a small fraction is via acceptance. It means a lot of shareholders are waiting till last minute to accept. I am anticipating the acceptance will ramp up by the end of this week.

It is pretty likely TCC Asset will go unconditional IMO, the question is how far beyond the 50%

(not vested)

[CityFarmer]

F&N’s Chairman Lee ‘disappointed’ OUE backed off on higher offer

Fraser & Neave Ltd.’s chairman said he was “disappointed” Overseas Union Enterprise failed to challenge Thai billionaire Charoen Sirivadhanabhakdi’s $13.8 billion bid for the property and drinks company.

A planned auction for F&N may have resulted in greater value for the company, Chairman Lee Hsien Yang said at a shareholder meeting today. Charoen is poised to win control of F&N after the rival bidding group led by OUE failed to match his $9.55 a share offer.

http://www.theedgesingapore.com/the-dail...offer.html

[lonewolf]

If TCC does not intent to delist F&N (unless it control 90% which is extremely unlikely), maybe some F&N shareholders will decide to hold on to the bitter end and not tender their shares to TCC.

If LHY is so disappointed, he should have put his money where his mouth is and not accept TCC revised offer.