Fraser & Neave (F & N)

[KopiKat]

Nice chart! Can also add in the 2 Eager Sellers (OCBC + GEH) and the F&N babies (FCT + FCOT)? But may end up looking very cluttered and messy!

Your wish is my command..

Price action to recent bids:

The targets
- F&N and APB up (obviously)

The bidders
- Heineken slightly up ($50 bid for APB received positively => means bid not high enough yet?
- Thai Bev (y92.si) down slightly (bid for F&N not so well received)

The eager sellers
- OCBC (o39.si) and GEH (g07.si) up (obviously)

The F&N babies
- FCT (j69u.si) and FCOT (kt8u.si) up (probably on their own steam)

[Image: z?s=F99.SI&t=1m&q=l&l=off&z=l&c=A46.SI,H...&region=US]

Note: yahoo finance data may not be fully accurate

Many Thanks! Yahoo Finance doesn't seem to like me. Was trying to get similar charts and it just refuses to give me the July data when I was trying to do shorter period charts (but 5D ok)....

[KopiKat]

ThaiBev is not sitting still,

THE PROPOSED INVESTMENT IN SHARES OF FRASER AND NEAVE, LIMITED – WAIVER OF REQUIREMENT TO SUBJECT PROPOSED INVESTMENT TO SHAREHOLDERS' APPROVAL

NOTICE OF A CHANGE IN THE PERCENTAGE LEVEL OF A SUBSTANTIAL SHAREHOLDER'S INTEREST

[swakoo]

ThaiBev is not sitting still,

THE PROPOSED INVESTMENT IN SHARES OF FRASER AND NEAVE, LIMITED – WAIVER OF REQUIREMENT TO SUBJECT PROPOSED INVESTMENT TO SHAREHOLDERS' APPROVAL

Am pondering over this sentence in the announcement:

The Company's paramount intention is to work constructively with all stakeholders of F&N to create value, to benefit all parties.

Heineken is presumably considered by Thai Bev as a stakeholder of F&N too?

The words "to create value" presumably means the status quo will not be an outcome, as change is needed to "create" something?

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Yahoo Finance doesn't seem to like me. Was trying to get similar charts and it just refuses to give me the July data when I was trying to do shorter period charts (but 5D ok)....

The problem is not with you. Yahoo Finance is rather erratic and sometimes inconsistent - probably a symptom why the company has not been doing well.

[KopiKat]

ThaiBev is not sitting still,

THE PROPOSED INVESTMENT IN SHARES OF FRASER AND NEAVE, LIMITED – WAIVER OF REQUIREMENT TO SUBJECT PROPOSED INVESTMENT TO SHAREHOLDERS' APPROVAL

Am pondering over this sentence in the announcement:

The Company's paramount intention is to work constructively with all stakeholders of F&N to create value, to benefit all parties.

Heineken is presumably considered by Thai Bev as a stakeholder of F&N too?

The words "to create value" presumably means the status quo will not be an outcome, as change is needed to "create" something?

I suppose they're open to 'horse-trading' activites with Heineken and Kirin... I take the 'Properties', u take 'APB' + I can give you 'Chang Beer', in return, I also take the rest of the F&B,....

Main thing is, they don't want any of the 'crown jewels' to be sold before they have even come on board...

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A quick look at ThaiBev AR2011 (pg 28-37) shows a lot of product overlap with F&N F&B biz. Interestingly, one ID (Mr Ng Tat Pun) was an EVP of OCBC from 1988-97). Lastly, on Pg 80, the 'Beer' segment is showing a Net Loss for FY2010 and FY2011.

So, it does look like ThaiBev may have very strong interest on the F&B biz of F&N after all and not just the 'Beer' part of it.

[freedom]

or maybe ThaiBev can help get a better price tag on APB. The whole saga starts with ThaiBev buying F&N and related co buying APB.

[swakoo]

or maybe ThaiBev can help get a better price tag on APB.

F&N in talks with Heineken for higher APB offer: sources

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I suppose they're open to 'horse-trading' activites with Heineken and Kirin... I take the 'Properties', u take 'APB' + I can give you 'Chang Beer', in return, I also take the rest of the F&B,....

You mean paper, scissors, stone?

[swakoo]

So, it does look like ThaiBev may have very strong interest on the F&B biz of F&N after all and not just the 'Beer' part of it.

So does Coca Cola...

Coca-Cola Said to Explore Offer for F&N Beverage Division

[KopiKat]

So, it does look like ThaiBev may have very strong interest on the F&B biz of F&N after all and not just the 'Beer' part of it.

So does Coca Cola...

Coca-Cola Said to Explore Offer for F&N Beverage Division

Sheez... Every Tom, Dick, Harry seems to see Value in F&N except our National Sovereign Fund...

Getting crowded, prob hv to resort to COE type of bidding....

[yeokiwi]

So, it does look like ThaiBev may have very strong interest on the F&B biz of F&N after all and not just the 'Beer' part of it.

So does Coca Cola...

Coca-Cola Said to Explore Offer for F&N Beverage Division

Sheez... Every Tom, Dick, Harry seems to see Value in F&N except our National Sovereign Fund...

Getting crowded, prob hv to resort to COE type of bidding....

Basically, F&N is worth more in pieces than whole.
Nobody wants the publishing business??
Maybe, after getting the windfall from selling its food and beverage business, F&N is interested in buying Popular ?

[KopiKat]

Basically, F&N is worth more in pieces than whole.
Nobody wants the publishing business??
Maybe, after getting the windfall from selling its food and beverage business, F&N is interested in buying Popular ?

No lah... I posted in Popular Hldgs thread that I think they should go bid for the Times Publishing biz. IIRC, CIMB SOP est is $200+Mil, can try to bid for less than $100M (Pop has enough Cash and still have leftover for Working Capital) since everyone seems to be rushing to F&N for a Closing Down Sale...can get much better discounts now (the other vultures are only interested in the F&B mainly)...If successful, with the bigger critical mass, break up Popular into 3 companies - Book Stores, Publishing and Properties, then get it listed plus give Pop shareholders these shares as Dividend in Specie..

PS, Can also horse-trade with F&N. F&N still have a huge Property biz and may also be reinvented as a Property co. In that case can swop Pop's tiny Property biz as an incentive for bigger discounts...