AUSTRALIA: Heavy Southcorp trading hots up takeover talk
Three days of heavy trading in the stock of Australian wine giant Southcorp has fuelled speculation that it is the target of a takeover bid. In recent months, Southcorp has increased its buyback and acquisition plans in what analysts see as a move to stop itself becoming a takeover target. This, added to the fact that major internationals such as Allied Domecq and Diageo are keen to expand their wine portfolios, has made Southcorp the centre of acquisition talk.
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