AUS: Foster's ups Southcorp control, deadline looms
Foster's Group has upped its holding in takeover target Southcorp once again.
The Australian drinks group said yesterday (23 May) that it has raised its number of shares in the wine company from 548,508,631 shares, representing 73.7%, to 568,064,522 shares, or 76.3%.
Foster's offer to buy Southcorp is scheduled to expire this Thursday.
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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