AUSTRALIA: Foster's bid gaining momentum
Australian liquor giant Foster's bid for winemaker Southcorp is gathering momentum.
It says it now has a 31% stake following sweetening of its original offer from A$4.14 to $4.26 a share. Fosters launched its bid after acquiring an 18.8% holding last January.
Foster's said the company had received acceptances from several institutional investors.
Foster's Group has extended its offer for Southcorp once again....
A revised assessment by Southcorp's independent expert has valued the company's shares closer to the bid value offered by Foster's Group....
As one takeover story trundles on, another one has just moved up a gear....
The chief executive of Foster's believes the global premium wine industry is on the upturn....
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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