UK: Diageo/S&N joint bid for Foster's rumour after share hike
By just-drinks.com editorial team | 13 March 2001
Shares in Foster's Brewing Group, like Southcorp only a few weeks ago, have seen a surge in value of 7% after two days of heavy trading, prompting speculation two UK drinks companies are mounting a takeover bid. Speculation in Australia has centred on a surprise joint bid between the wine and spirit giant Diageo and the UK's leading brewer Scottish & Newcastle (S&N). Reports have suggested that Diageo would take the wine division, Beringer Blass, while S&N would acquire the Foster's brewing division.
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Shares in Foster's Brewing Group, like Southcorp only a few weeks ago, have seen a surge in value of 7% after two days of heavy trading, prompting speculation two UK drinks companies are mounting a takeover bid. Speculation in Australia has centred on a surprise joint bid between the wine and spirit giant Diageo and the UK's leading brewer Scottish & Newcastle (S&N). Reports have suggested that Diageo would take the wine division, Beringer Blass, while S&N would acquire the Foster's brewing division.
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