LONDON - The FTSE 100 slid from 13-year peaks on Thursday, battered by weak Chinese economic data and signs the U.S. Federal Reserve could soon taper its stimulus programme.
FRANKFURT - New solar installations reached a fresh record of 7.5 gigawatts (GW) in Germany in 2011, playing into the hands of advocates for steeper cuts in tariff subsidies to reduce growth of solar power and the resulting higher costs for consumers.
Fraser And Neave falls after Thai billionaire wins control
SINGAPORE (Reuters) - Shares of Fraser and Neave Ltd (F&N) (FRNM.SI) fell 2 percent on Tuesday after a group led by a Thai billionaire won the takeover battle for the Singapore drinks and property conglomerate in a deal worth around S$13.8 billion ($11.24 billion).
A group led by Stephen Riady's Overseas Union Enterprise Ltd (OVES.SI) withdrew after Thailand's TCC Assets Ltd, headed by billionaire Charoen Sirivadhanabhakdi, raised its offer for F&N to S$9.55 a share last week and built its stake to more than 40 percent.
By 0102 GMT, F&N was trading at S$9.55 on volume of 44.8 million shares, of which around 37.4 million changed hands in a bloc deal. Overseas Union shares rose 4.4 percent to S$2.86, their highest in over three months.
On Monday, F&N shares had risen 1.7 percent to close at S$9.74, indicating Overseas Union's withdrawal was not expected by all in the market and some investors were betting on a counterbid.
($1 = 1.2283 Singapore dollars)
(Reporting by Charmian Kok)
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