Tag Archives: Takeover

• Foster’s accepts SABMiller takeover bid

Foster’s accepts SABMiller takeover bid

Australian brewer Foster’s has accepted a takeover bid from SABMiller. Foster’s said the bid valued the company at AU$12.3 billion, with chairman David Crawford describing the proposal as “compelling”. SABMiller chief executive Graham Mackay said: “We are pleased that we have reached agreement on a recommended transaction to be put to Foster’s shareholders. “Foster’s will […]

• Battle for Foster’s turns ugly

Battle for Foster’s turns ugly

The battle for Foster’s is turning ugly after SABMiller claimed the brewer made “misleading and deceptive” statements in its full year results presentation. SAB’s bid to take over Foster’s turned hostile last month after the Foster’s board rejected its AU$9.5 billion bid. SAB responded by taking the AU$4.90 per share offer directly to shareholders. The […]