AUSTRALIA: Foster's in clear over takeover info

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No action is to be taken against Foster's following complaints by Southcorp that it had misled shareholders in the literature it sent out pertaining to its takeover bid of the Australian winemaker.

The country's Takeovers Panel has said it will take no action over the Southcorp complaints.
"The panel formed the view that these statements were not misleading," the takeover regulator said in a statement.

Last week the Panel allowed Foster's to send its offer documents to Southcorp shareholders after the wine and beer giant provided extra information.

Sectors: Beer & cider, Wine

Companies: Foster’s Group Ltd

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