Round-Up - The End of the Road for Foster's Group
Earlier this month, SABMiller saw its purchase of Foster's Group clear the final hurdle. Here's a round-up of just-drinks' coverage of the acquisition.
Last week, we bade farewell to Foster's Group as SABMiller closed its acquisition of the Australian brewer. Although the beer sector's thirst for consolidation has been relentless, Foster's also contributed strongly to its own downfall. Here, just-drinks identifies five key factors that led to the brewer's sale to SABMiller.
SABMiller's acquisition of Foster's Group has become "legally effective" after an Australian court approved the deal.
Foster's Group's shareholders have backed a takeover of the brewer by SABMiller, clearing the path for the deal to close within 24 hours.
SABMiller has cleared the final regulatory hurdle to its takeover of Australia's Foster's Group.
SABMiller has raised its cash offer for Foster's Group after Australian tax authorities rejected a plan for Foster's to hand money back to its own shareholders in advance of the deal going through.
SABMiller shares have dropped on the news that it will raise its cash offer for Foster's Group, but the deal has not really changed that much.
The battle between SABMiller and Foster's Group for control of the Australian brewer took a turn in favour of SABMiller last month, when Foster's board approved its takeover offer. Our regular beer commentator, Pete Best, admits to being initially puzzled by SABMiller’s move - and he wasn't the only one.
SABMiller's move for Foster's Group has been given the green light by the Australian Competition and Consumer Commission.
Three months of turning the screw on Foster's Group's management has paid off for SABMiller; at least, that's if you agree with the acquisition in the first place. Here, just-drinks takes a look at the early market reaction.
The CEO of SABMiller has sought to head-off scepticism over the brewer's deal to acquire Foster's Group, stressing that the move will immediately add value to its business.
SABMiller has agreed a deal to buy Foster's Group for AUD5.1 per share in cash, in a deal valuing the business at AUD12.3bn (US$12.6bn), including debt.
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