AUSTRALIA: Woolworths considering Foster's pub bid
Woolworths, along with its half-owned subsidiary MGW Hotels, is reported to be interested in the A$1 billion (US$670m) business, but reports from Australia’s press said the advance may receive only a lukewarm reception given Foster’s fears of the growing power of the country’s retailers.
The Australian Financial Review said Woolworths is particularly interested in the 50 hotels in Queensland, which comprise a large chunk of the 130 hotels in Foster's Australian Leisure and Hospitality division.
Companies: Foster’s Group Ltd
A revised assessment by Southcorp's independent expert has valued the company's shares closer to the bid value offered by Foster's Group....
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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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