Foster's Group has said its stake in Southcorp, which it is in the process of acquiring, has now passed the 70% mark.

The Foster's A$3.17bn/A$4.26 per share offer was conditional on the group gaining acceptances for 50% of the shares, which it achieved a little over a week ago.

The takeover bid had been recommended to Southcorp shareholders by the majority of the board, but chief executive John Ballard and non-executive director Ern Pope have remained opposed.

With the bid scheduled to close on 26 May, Foster's said it has an integration team ready to move in as soon as acceptances for 90% of the shares have been received.