Foster's, the Australian brewer and winemaker currently bidding to takeover Southcorp, could itself become a takeover target according to one analyst.

Foster's has made a A$3.1bn takeover bid for winemaker Southcorp Ltd, which has so far been rejected by the Southcorp board.

It was thought that any one of a number of international wine and spirit makers could provide a rival offer, including Diageo, Allied Domecq and Pernod Ricard. However, so far no alternative bid has been forthcoming.

In a reseach note to clients, UBS analyst David Roberton provided a possible explanation for the silence.
 
"Given Foster's strategic stake in Southcorp, we believe alternative Southcorp bidders may not be the only outcome as an acquisition of Foster's could be a safer and more compelling play," he said.