15 September 2012

Battle-worn Charoen fights Beer War II

Given his record of gutsy strategy and aggressiveness, ThaiBev tycoon unlikely to let F&N go easily
CHAROEN Sirivadhanabhakdi has always been the last one standing.
Whether it was Thailand's beer war of the 1990s, an acrimonious split from Dutch brewer Carlsberg in the 2000s, or the dissolving of a partnership with Singapore developer CapitaLand in 2011, the Thai tycoon now leading a battle for Fraser & Neave has somehow always managed to outlast the field.
But his latest bid for the Singapore conglomerate is his biggest battle yet, and F&N's share price movement yesterday did not make it any easier for the man.
F&N shares shot as high as $9 yesterday before settling at $8.97, up 5 cents on the day. That is higher than Mr Charoen's offer of $8.88 per share to take F&N private.

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