Advertisement
Singapore markets closed

  • Straits Times Index

    3,296.89
    +4.20 (+0.13%)
     

  • S&P 500

    5,039.01
    +20.62 (+0.41%)
     

  • Dow

    38,073.62
    +170.33 (+0.45%)
     

  • Nasdaq

    15,728.77
    +123.29 (+0.79%)
     

  • Bitcoin USD

    59,232.57
    +2,348.50 (+4.13%)
     

  • CMC Crypto 200

    1,278.49
    +7.75 (+0.61%)
     

  • FTSE 100

    8,172.15
    +50.91 (+0.63%)
     

  • Gold

    2,313.90
    +2.90 (+0.13%)
     

  • Crude Oil

    78.97
    -0.03 (-0.04%)
     

  • 10-Yr Bond

    4.6080
    +0.0130 (+0.28%)
     

  • Nikkei

    38,236.07
    -37.98 (-0.10%)
     

  • Hang Seng

    18,207.13
    +444.10 (+2.50%)
     

  • FTSE Bursa Malaysia

    1,580.30
    +4.33 (+0.27%)
     

  • Jakarta Composite Index

    7,117.42
    -116.77 (-1.61%)
     

  • PSE Index

    6,646.55
    -53.94 (-0.81%)
     

Watchdog sets deadline for F&N brouhaha

Singapore Business Review

Shareholders’ wait ends soon.

IG Markets Singapore noted:

A fall in retails sales of 1.1% didn’t help sentiment across the island although there was one sliver of good news for Fraser & Neave shareholders.

The SIC shares watchdog has ruled that this Sunday will be the deadline for the increasingly dull takeover battle for F&N. It is willing to accept a revised bid on Monday and a counter-bid on Tuesday.

The F&N share price has inched back towards $9.70 a share indicating the optimism shareholders still have that an improved bid can be tabled. But the big question if this unlikely scenario does happen is why did it take a rival bidder so long?

ADVERTISEMENT

All traders have seen are two rival foreign companies use F&N as a play thing to raise their own profile without any serious conviction to acquire the property and drinks conglomerate. The low-ball offers come across as disingenuous and many are surprised a third party hasn’t sneaked in and stole their thunder.



More From Singapore Business Review