Bidders barely battling for F&N, says analyst

The bidding war has "a real lack of battle in it".

IG Markets Singapore noted:

The F&N slow burner of a bidding war meanders to its end game, with OUE changing its deadline to the 21st January. This is the latest that the bid can be set to expire should no changes to the tabled offer be made.

We now have TCC’s latest deadline today and should it follow the theme of this takeover so far, i.e. a takeover battle with a real lack of battle in it, we are likely to see them extend their deadline once again, probably to the same date as OUE.

Perhaps then the D-day for this phony takeover war will be properly marked on everyone’s calendar as the 21st, and improved offers will be tabled.

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