FPH spurns KKR’s First Gen bid

MANILA, Philippines — First Philippine Holdings Corp. (FPH) has rejected US-based Kohlberg Kravis Roberts & Co.’s (KKR) proposal to acquire an additional stake in First Gen Corp., saying the P35-per-share offer failed to reflect its “true value.” The Lopez-led holding company said on Monday it had informed KKR that it would not pursue the private