INQUIRER.net: Thailand’s richest tycoon in $6.6B bid for discount retailer

INQUIRER.net Philippine News for Filipinos

Thailand's richest tycoon in $6.6B bid for discount retailer Apr 23rd 2013, 23:59 BANGKOK—Thailand's richest tycoon on Tuesday launched a $6.6 billion takeover bid for Thai discount retailer Siam Makro as rapid economic growth drives a boom in the kingdom's retail sector.   The agreed bid is the latest mega-deal involving billionaire Dhanin Chearavanont, whose sprawling empire includes a string of convenience stores operated under the 7-Eleven brand.   Dhanin's CP All said in a statement that it had agreed to buy a 64.35 percent stake in Siam Makro from SHV of the Netherlands for 787.00 baht ($27.3) per share, and would launch a tender offer for the remainder.   It comes months after Dhanin's umbrella group Charoen Pokphand—whi... Keep on reading: Thailand's richest tycoon in $6.6B bid for discount retailer Media files: Dhanin-Chearavanont.jpg (image/jpeg)

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