Heineken NV has raised its offer for Fraser and Neave's (F&N) stake in the maker of Tiger beer to $53 per share from S$50 as it fights against a Thai billionaire, a source close to the situation said on Friday.
The Dutch brewer's revised offer for Asia Pacific Breweries compares with a partial offer by the Thai group of S$55 per APB share.
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Control of APB is vital for Heineken, which had offered S$50 per share for the 58% it does not already own. That includes the 40% of APB held by its long-time partner F&N, a drinks and property conglomerate.