According to reports in the Australian Financial Review, Foster’s is pondering making a takeover bid for either its troubled major competitor, Southcorp, or the US wine group, Kendall-Jackson.
According to the report, Foster’s is attempting to put together a A$2.5 billion bid for Southcorp. But as an alternative, Foster’s is also thought to be considering making a A$3 billion bid for Kendall-Jackson.
Foster’s has been suggested as a possible buyer for the beleaguered Southcorp before but was thought to be concerned that a move for its competitor would not be approved by the Australian Competition and Consumer Commission (ACCC).
The report suggested that if Foster’s were to take over Southcorp, the ACCC would very likely insist on the sale of one of Southcorp’s major brands.
