Premium
This is an archive article published on August 17, 2011

SABMiller in 10 bn hostile Foster8217;s bid

Global brewer SABMiller took its bid for Foster's hostile,going direct to shareholders.

google-preferred-btn

Global brewer SABMiller went hostile with its 10 billion bid for Australia8217;s Foster8217;s Group ,going direct to shareholders on Wednesday at a discount to Foster8217;s last trade.

A deal would join together the brewer of Miller Lite,Peroni and Grolsch with the Melbourne-based maker of Victoria Bitter,Pure Blonde and Cascade beer,and would be the biggest deal since InBev paid 52 billion to buy Anheuser-Busch to form AB InBev in the world8217;s biggest cash takeover in 2008.

Foster8217;s rejected SABMiller8217;s offer at A4.90 a share in June,and its chief executive,John Pollaers,said the offer was so low it was not worth discussing.

He recently came under fire from some shareholders for failing to engage with SABMiller.

As there has been no willingness to engage in relation to SABMiller8217;s proposal on the part of the Foster8217;s Board,SABMiller has decided to make an offer to Foster8217;s shareholders directly,SAB said.

When SABMiller launched its bid for Foster8217;s,analysts said the London-based brewer may have to pay up to A5.20-A5.40 to succeed,but now some believe A4.90-5.10 will win the day,according to a Reuters poll. 1 = 0.953 Australian Dollars

 

Latest Comment
Post Comment
Read Comments
Advertisement
Live Blog
PHOTOS
In pics: From concept supercars to electronic SUV's: Bharat Mobility Global Expo 2025 was all about innovation
In Pics: From Concept Supercars to Electric SUVs – Innovation at Bharat Mobility Global Expo 2025
Top Stories
deepam festival
Narrowing scope of dispute at Thirupparankundram, Madras HC upholds lighting of Karthigai Deepam
During questioning of the parents, police said the names of a Muslim cleric who allegedly solemnised the nikah and a witness have come into light
KGMU doctor’s parents arrested in Lucknow for ‘conversion’ after two women allege coercion
Shark Tank India Season 5
Shark Tank India 5: Angry Anupam Mittal warns 'fraud' pitcher of jail time, Kunal Bahl urges no one to invest
Here's how Excel Entertainment and Dharma Productions' equity deals are different.
How Excel Entertainment selling Rs 800 cr stake is different from Rs 1000 cr Dharma deal
“Hey, Virat Kohli, I’m trying to film with you,” MrBeast said
'I’m trying to film with you’: American YouTuber MrBeast’s message to Virat Kohli
Bengaluru vs London salary PPP
How Rs 45 lakh salary in Bengaluru offers more luxury than Rs 1.3 crore in London, according to a Google engineer
Call on Bangladesh seamer Mustafizur-Rahman’s IPL ouster taken at top level in BCCI
Call on Bangladesh seamer Mustafizur Rahman’s IPL ouster taken at top level in BCCI
While the Indian WC-winning team will always be considered pioneers who helped lift women's cricket, their developmental years were far from ideal when it comes to nutrition. (Express Photo by Narendra Vaskar)
Why India's Women's World Cup winners still need improvements in nutrition
The challenge is to honestly evaluate which features of MGNREGA have stood the test of time and which require recalibration.
To make VB-G Ram G work, evaluate MGNREGA honestly
Umar Khalid and Sharjeel Imam
Delhi riots case: Why SC denied bail to Umar Khalid and Sharjeel Imam
Japanese chef Takamasa Osawa serving biryani to Ram Charan and his family
Japanese chef Takamasa Osawa, known for his mastery of biryani, shares a memorable day cooking the dish at Ram Charan’s Hyderabad home: 'I won’t forget’
Samsung Galaxy Book6 Ultra, is powered by a six-speaker system with Dolby Atmos and force-cancelling woofers to deliver more immersive sound for media playback and calls. (Image: Express Image)
Samsung Galaxy Book6 series debuts at CES 2026 with AI power, slimmer design
Advertisement
Must Read
Call on Bangladesh seamer Mustafizur Rahman’s IPL ouster taken at top level in BCCI
Call on Bangladesh seamer Mustafizur-Rahman’s IPL ouster taken at top level in BCCI
Why India's Women's World Cup winners still need improvements in nutrition
While the Indian WC-winning team will always be considered pioneers who helped lift women's cricket, their developmental years were far from ideal when it comes to nutrition. (Express Photo by Narendra Vaskar)
'Anaemia, a persistent and damaging issue in Indian women's sport' - says nutritionist who worked with Harmanpreet and Mandhana 
Anaemia remains a persistent and damaging issue in Indian sport, according to one of the country's top sports nutritionists, Ryan Fernando. (BCCI)
Samsung Galaxy Book6 series debuts at CES 2026 with AI power, slimmer design
Samsung Galaxy Book6 Ultra, is powered by a six-speaker system with Dolby Atmos and force-cancelling woofers to deliver more immersive sound for media playback and calls. (Image: Express Image)
This US startup claims to fit a 120-billion-parameter AI model into your pocket
The compact AI device is 80GB of LPDDR5X memory and 1TB of storage. (Image: Tiiny)
Nvidia CEO Jensen Huang says next-generation chips are in full production at CES 2026
Nvidia also touted a new generation of networking switches with a new kind of connection called co-packaged optics. The technology, which is key to linking together thousands of machines into one, competes with offerings from Broadcom and Cisco Systems. (Fil Image/Reuters)
Japanese chef Takamasa Osawa, known for his mastery of biryani, shares a memorable day cooking the dish at Ram Charan’s Hyderabad home: 'I won’t forget’
Japanese chef Takamasa Osawa serving biryani to Ram Charan and his family
Advertisement
Buzzing Now
'I’m trying to film with you’: American YouTuber MrBeast’s message to Virat Kohli
“Hey, Virat Kohli, I’m trying to film with you,” MrBeast said
How Rs 45 lakh salary in Bengaluru offers more luxury than Rs 1.3 crore in London, according to a Google engineer
Bengaluru vs London salary PPP
‘Startups can’t be built with 9-5 mindset’: Zomato’s Deepinder Goyal on work-life balance debate, ‘demanding’ boss tag
Deepinder Goyal also explained the distinction between working hours and mindset
Foreign tourist dances around ‘protective’ circle on New Year’s Eve in Shillong, video wins hearts: ‘the respect for personal space and dignity’
Residents at Khyndai Lad in Shillong’s Police Bazar created a safe and respectful space around the woman
From Indian streets and across continents: The incredible journey of Aloka, the ‘peace dog’, currently on a 2,300-mile walk
During the march, Aloka was struck by a car and later fell seriously ill
Jan 06: Latest News
Advertisement