AUSTRALIA: Foster's confirms hunt for bolt on acquisitions
Talking to the magazine Ted Kunkel, Foster's chief executive said the company was hunting "small acquisitions of strong brands" of wine, possibly European companies selling around 150,000 cases a year in areas where Foster's was underrepresented.
According to Kunkel, Foster's preferred deal would be to buy half a business "at a reasonable multiple" and then acquire the rest of the business over a five year period.
Companies: Foster’s Group Ltd
A revised assessment by Southcorp's independent expert has valued the company's shares closer to the bid value offered by Foster's Group....
Australian liquor giant Foster's bid for winemaker Southcorp is gathering momentum....
As one takeover story trundles on, another one has just moved up a gear....
The chief executive of Foster's believes the global premium wine industry is on the upturn....
Foster's Group Ltd is expected to announce that it is lifting its offer for fellow Australian Southcorp, transforming three months of corporate hostility into a friendly takeover....
Shares in Southcorp and Foster's have been halted from trading, pending an announcement....
Southcorp's share price has dropped below the offer price made by Foster's for the first time today (18 April)....
Foster's Group is considering upping its bid for Southcorp prior to extending its offer once again....
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