The world’s third-largest brewer is wading into a bidding war for control of a major Asia Pacific brewery.
The Dutch Heineken has upped its bid to $6 billion for Asia Pacific Breweries, the maker of Tiger beer. Heineken has been courting the brewer for weeks, but their takeover has thus far been spoiled by a competing offer from a Thai rival.
Heineken is hoping to buy the 58-per-cent stake in APB in order to gain access to the still-growing Asian beverage market. As a result, the brewer upped its bid from $50 a share to $53 a share.