Heineken has made a $4.1 billion offer to take full control of the Singapore-based maker of Tiger beer, attempting to see off a competing bid from Thailand's biggest beverage maker.
Heineken said Friday it is offering 50 Singapore dollars a share to Fraser & Neave Ltd., which owns half of the Tiger beer maker Asia Pacific Breweries Ltd. The offer is worth S$5.1 billion ($4.1 billion) in total.
Asia Pacific Breweries is a joint venture between Heineken and Fraser & Neave.
The Dutch brewer's move comes after Thai Beverage earlier this week said it had entered into agreements with three shareholders to take a 22 percent stake in Fraser & Neave for S$2.8 billion.