USA: Foster's plan to win over US market
Australian wine giant Foster's Group is hoping to boost its standing in the US with an "ultra premium" wine brand according press reports.
Foster's is hoping to win over influential US wine connoisseurs in the hope that average wine drinkers will then also take notice of its less expensive brands.
Australian reports say that Terry Davis, managing director of the Beringer Blass Wine Estates division said the company needs an icon brand that will create a halo effect for its other wines.
Meanwhile Ted Kunkel, Foster's CEO hopes to double the company's share price by 2006 by broadly using steady cash streams from its slow-growth beer division to fuel organic and acquisitive growth in its expanding wine division.
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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