Firmer open set for STI following holiday

The big news locally, according to IG Markets Singapore, was the improved $53 a share Heineken offer for APB.

IG Markets Singapore said:

Singapore enjoyed a public holiday yesterday although there is little to catch up on. The big news locally was Friday night’s improved $53 a share Heineken offer for APB which it hopes will end the month-long tussle.

While Heineken has done all it can to put an end to the Tiger tussle the Thais may still have a trick up their sleeve. F&N shareholders have yet to vote on the deal.

If all ThaiBev was trying to do was ramp up the share price to secure a bigger payout they will be happy with $53 a share. But if they genuinely had aspirations to take control of APB they will be looking at ways of scuppering the deal firmly on F&N’s table.

The futures market points to a slightly firmer open for the STI this morning.