SABMiller makes £6bn Foster's bid

By John Harrington, M&C Report

- Last updated on GMT

Related tags: Hostile takeover bid, Takeover, Sabmiller

SABMiller: values Foster's at £6bn
SABMiller: values Foster's at £6bn
SABMiller has made a public statement about its hostile takeover bid for Foster's Group for A$4.90 per share.

SABMiller has made a public statement about its hostile takeover bid for Foster's Group for A$4.90 per share, which values the Australian brewer at A$9.51bn (£6bn).

SABMiller announced this morning that it has gone directly to Foster's shareholders after having a previous bid, also valued at A$4.90, rejected by the Foster's Board on 21 June.

"SABMiller believes that the proposal put to the Foster's Board is attractive and should be put to Foster's shareholders," the company said.

"As there has been no willingness to engage in relation to SABMiller's proposal on the part of the Foster's Board, SABMiller has decided to make an offer to Foster's shareholders directly."

SABMiller's UK arm, Miller Brands, distributes brands including Pilsner Urquell and Peroni.

Related topics: Beer

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