AUSTRALIA: Lambert departure may herald Southcorp takeover
Merrill Lynch, a stern critic of Southcorp for many months, said: "Questions need to be asked of the capabilities of the current Southcorp board. We consider Southcorp is now rudderless, with no effective strategy in place. The future of Southcorp as a stand-alone company looks dim. There is only one out for Southcorp: to do what BRL Hardy did and find a strategic partner and/or acquirer."
Most analysts seem to favour a bid by Fosters, although the company has refused to comment. In the past, however, Fosters has said it is not looking for any more Australian wine products. Merrill Lynch noted that Fosters could extract A$50m in savings from a merger with Southcorp.
Salomon Smith Barney reported that Lambert's departure, "may give any potential acquirer the motivation to dust off the books to have another look at Southcorp. These could be any of the global alcoholic beverage firms: Diageo, Allied Domecq or Fosters."
Macquarie Equities agreed that Lambert's departure made an acquisition more likely.
Diageo is looking to change the image of one of its flagship brands in Colombia....
The US consumer goods group Fortune Brands has confirmed it is in talks about launching a joint bid with Pernod Ricard for Allied Domecq....
Diageo is to launch a new global advertising campaign for Smirnoff Ice. The first ad in the global campaign, 'Garden', launches in Great Britain on April 11th on terrestrial and satellite TV. ...
Fideuram Wargny has upgraded its rating of Pernod Ricard to 'buy' from 'hold'. Its analysts argue that the merger talks with Allied Domecq is a catalyst for share growth....
Diageo has completed another share buyback transaction....
Fortune Brands has started making moves to acquire in the European drinks industry, according to press reports....
E&J Gallo has announced a number of appointments within its European division....
Diageo's Smirnoff Signatures line of premixed cocktails is now available nationwide in the US....
- Heineken goes from strength to strength - Analysis
- Key trends for the alcohol category in 2017
- Treasury Wine Estates CEO - Interview Pt II
- Heineken 2012-2016 - results data
- Heineken FY 2016 by region - results data
- Non-alcoholic Heineken set to hit Europe - CEO
- Rum braced for falling volumes in years ahead
- Beam Suntory revamps Bowmore whisky packaging
- Bacardi lines up Canadian bottling plant closure
- Asahi Group lifts 2016 sales, profits
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Global vodka insights - market forecasts, product innovation and consumer trends
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Global gin insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends