Reuters: Global Markets: Singapore's APB at record high after Heineken ups offer

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Singapore's APB at record high after Heineken ups offer Aug 21st 2012, 01:18 SINGAPORE | Mon Aug 20, 2012 9:18pm EDT SINGAPORE (Reuters) - Shares of Singapore's Asia Pacific Breweries Ltd (APBB.SI) jumped 4.8 percent to a record high on Tuesday after Dutch brewer Heineken (HEIN.AS) raised its offer for Fraser and Neave's (FRNM.SI) stake in the maker of Tiger Beer to $6.35 billion. By 2001 EDT, APB shares were up 4.8 percent at S$53.00, while F&N rose 0.5 percent to S$8.44, having initially traded lower. Heineken made its revised offer of S$53 a share for APB late on Friday, seeking to fend off a Thai rival for control of a leading brand in the fast-growing Southeast Asian market.

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