Blog: Chris MercerMolson Coors extinguishes the embers on Foster's?

Chris Mercer | 2 August 2011

Does Molson Coors' decision to spend US$1.2bn to buy back its own shares deliver the knockout blow to lingering thoughts about the brewer acquiring Foster's Group?

I think the answer is yes, if that blow has not been delivered already. I think we can forget about Molson's potential tilt at Foster's, whether via a tie-up with Grupo Modelo or anyone else. 

It seems unlikely that Molson would have the resources to fund both.

In reality, it has been distancing itself from the Australian brewer for some time. Late last year, Molson announced it would sell its 5% stake in Foster's.

Where does the buyback leave Molson Coors' acquisition strategy? With not many big players left to buy, the group will be looking for add-ons in the emerging markets, most likely. It recently acquired the stricken Cobra beer operations in India

 


BLOG

Electric cars keep Hennessy up with current trends

It seems even 250-year-old Cognac houses want to be like Google these days....

BLOG

[Checks watch] “I best be heading home”

It's not even available on pre-order yet, but Apple's latest piece of kit has already got a breathalyser app....

BLOG

just-drinks closed for Easter

just-drinks is now closed for the Easter weekend....

BLOG

Diet Coke decline leaves Pepsi sitting pretty

Last year was tough for The Coca-Cola Co. So staff in Atlanta won't be pleased to read that Pepsi has overtaken Diet Coke as the no. 2 soda brand in the US. ...

just-drinks homepage



Forgot your password?