Watchdog sets deadline for F&N brouhaha

RELATED QUOTES

SymbolPriceChange
F99.SI2.48-0.01

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?

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
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3629-0.0006-0.04%
    USDSGD=X
    1.5103+0.002+0.13%
    EURSGD=X
    2.1282-0.0006-0.03%
    GBPSGD=X
    90.4366-0.2195-0.24%
    SGDJPY=X
    5.6869+0.0019+0.03%
    SGDHKD=X
    2.7910+0.00010.00%
    SGDMYR=X
    9,861.8135+11.7959+0.12%
    SGDIDR=X
    4.5512-0.0031-0.07%
    SGDCNY=X
    0.9997-0.0017-0.17%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,096.20-0.10-0.01%
    GCQ15.CMX
    14.66+0.02+0.16%
    SIU15.CMX
    47.47+0.81+1.73%
    ^XAU
    2.42+0.02+0.92%
    HGU15.CMX
    47.91-0.07-0.15%
    CLU15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.59+0.01
    ^FVX
    2.25+0.02
    ^TNX
    2.96+0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.138-0.003-2.13%
    5DN.SI
    0.5950.0000.00%
    N21.SI
    0.310.00-1.59%
    5WA.SI
    0.123+0.001+0.82%
    5I0.SI
    0.340.000.00%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.18+0.02+11.80%
    UV1.SI
    1.10+0.10+10.00%
    AXL.SI
    0.38+0.03+8.57%
    42E.SI
    0.55+0.05+8.91%
    P19.SI
    0.305+0.015+5.17%
    42D.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.24-0.04-14.29%
    AWS.SI
    0.092-0.013-12.38%
    O05.SI
    0.315-0.015-4.55%
    Y35.SI
    0.38-0.03-7.32%
    A04.SI
    0.48-0.03-6.80%
    E8Z.SI