The Thai company, controlled by billionaire Charoen Sirivadhanabhakdi, said Thursday it is offering Singapore dollars 8.88 a share for the 70 percent of Singapore-listed Fraser & Neave it doesn't already own. That would be a total outlay of S$8.8 billion ($7.2 billion).

Charoen's Thai Beverage and Heineken have been vying for control of Asia Pacific Breweries Ltd., which is jointly owned by Fraser & Neave and Heineken.

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