Fraser & Neave receives 55.01% of Times Publishing

Singapore“s Fraser & Neave (F&N) said it had received 55.01% of Times Publishing shares at the close of its cash offer for the company.
F&N said in a statement that it now controlled a total of 87.4…

Singapore“s Fraser & Neave (F&N) said it had received 55.01% of Times Publishing shares at the close of its cash offer for the company. F&N said in a statement that it now controlled a total of 87.49% of Times existing issued share capital. “F&N will immediately review with Times“ management all aspects of its business,” it said in a separate statement. “F&N and Times will jointly announce their new business strategy when the review of Times“ business has been satisfactorily completed.” The offer had been declared unconditional in May. Diversified food and beverage company F&N said in April it was making a voluntary conditional cash offer for all of Times Publishing“s capital at S$ 4.40 a share.