Foster’s Board Rejects SABMiller’s Hostile Offer
August 19
13:14
2011
The board of Foster’s intends to advise shareholders to reject SABMiller’s proposed offer of A$4.90 per share in cash. Indeed, the board has reiterates its belief that the offer, at the same price as SABMiller’s initial offer made in June, significantly undervalues Foster’s.
Foster’s beer portfolio includes Australian icons such as VB, Cascade, Crown Lager, Carlton Draught and successful imports Asahi,Coronaand StellaArtois. Through its Carlton United Brewers business, Foster’s isAustralia’s largest brewer, controlling about half of the beer market.
