Singapore Stock Market News

Thai Beverage - A bidding war begins

StockFanatic
Publish date: Mon, 22 Oct 2012, 01:34 PM
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OUE is believed to be preparing to bid for F&N together with Kirin, according to a Reuters report. If this offer materialises, it will mean the start of a bidding war, with TCC expected to counter offer. If TCC loses, Thai Bev is set to reap divestment gains, but will miss out on synergies.

We keep our SOP target price, and maintain our estimates. There is no change to our Outperform call. Catalysts will come from more corporate actions as the bidding war heats up.
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