Bid for takeover of DB Group unchanged

Asia Pacific Breweries gave notice yesterday that it will not be extending the deadline for its 280c a share takeover of DB Group.

This means the offer will close next Monday.

APB has stuck with its offer terms despite an independent report concluding that the price was too low.

Slep Hiemstra, the regional director for APB, said the offer on the table "represents good value to DB shareholders, so there is no reason to increase the offer."

APB has received acceptances from more than 2300 DB shareholders, representing about 6.5 million shares.

This increases APB's shareholding in DB from 58.4 per cent to 64.8 per cent.

Before APB launched its offer DB had around 11,300 shareholders.