Thursday, September 29, 2011

Miller Buys Foster's

From Business Week:
SABMiller Plc clinched Foster’s Group Ltd. with a sweetened A$9.9 billion ($10.2 billion) offer for Australia’s biggest brewer after three months of pursuit.

The U.K. company will pay A$5.10 a share in cash for the Melbourne-based brewer, SABMiller said today in a statement. The offer was previously for A$4.90 minus dividend payments.

The purchase will be the biggest ever by SABMiller and give it access to about half of the Australian beer market.

SABMiller’s initial attempts to nab the maker of Victoria Bitter were rebuffed by Foster’s management as undervaluing the brewer, one of the world’s most profitable...

SABMiller to Buy Foster’s After Raising Bid to A$9.9 Billion
Clementine Fletcher
September 21, 2011

No comments: