Blog: Foster's Group: Going Once, Going Twice...
Chris Mercer | 21 September 2011
It's not too late to beat SABMiller's bid for Foster's Group, apparently.
On a media call today (21 September), Foster's CEO John Pollaers told just-drinks' managing editor, Olly Wehring, that the Victoria Bitter brewer remains open to the idea of rival bids.
Pollaers said that, while Foster's is "very focused on [SABMiller's] proposal", he added that "should any superior offers emerge then the board does remain in a position to address it". He declined to say whether Foster's has received interest from anyone other than SABMiller.
If either SABMiller or Foster's does renege on the agreement, however, the party breaking off the deal would have to pay a fee to the other.
Ok, so perhaps it was a bit of a leading question, but it's interesting to hear Pollaers sending out that kind of signal.
That said, there is little sign that anyone else is keen to go toe-to-toe with SABMiller. A potential bid from Grupo Modelo has not materialised and most other brewers are looking elsewhere, or seeking to cut debt.
The homebrewing revival continues in the UK - and evidence has come that even the supermarket chains are taking it semi-seriously. ...
Does Pernod Ricard have something to hide? In a press conference after the release of full-year results today, only a quarter of the 100 minutes were given over to questions from journalists....
Here's a round-up of the top stories on just-drinks last week, featuring Carlsberg, Heineken, Coca-Cola Amatil, California's winelands and Cognac....
- The End of the Road for International Beer Brands?
- Comment - Another One Bites Bacardi's Dust
- just The Preview - Pernod Ricard's Q4 & FY
- Pernod Ricard's FY Performance by Region, Brand
- US craft vodka puts squeeze on Pernod's Absolut
- Mast-Jägermeister targets UK off-trade boost
- Pernod bemoans tough FY as sales, profits drop
- Bacardi announces CFO switch
- SABMiller exec to become CFO at Beam Suntory
- Brown-Forman unveils Jack Daniel's UK push