News

AUSTRALIA: No sign of Foster's increasing bid

Most popular

Pernod is back in Kentucky, but why did it leave?

The opportunity for no-alcohol in the on-premise

Which drinks companies will be hit by cool weather

Anheuser-Busch InBev Performance Trends 2014-2018

Why brown spirits is behind low- & no-alc curve

MORE

Foster's looks unlikely at present to cave in to pressure from Southcorp to increase its takeover offer of A$4.17 a share for the maker of Penfold's wines.

In an interview with the newswire Dow Jones today, Foster's CEO Trevor O'Hoy said: "I can't ever say no" to a higher offer, but "nothing has changed."

He added that despite the positive results Southcorp recently posted, he hadn't "seen any more value in that 80 page document."

O'Hoy also indicated that his company was in no rush to complete the acquisition and would walk away if the price became to rich.

"We're very patient and I believe we're very financially disciplined," O'Hoy said. "We didn't go into this to buy a blocking stake, but if that's the case..., then so be it."

Foster's already owns a  19% stake in the Australian winemaker.


Sectors: Wine

Companies: Foster’s Group Ltd

Related Content

Foster's and S&N tie up loose ends in Europe

Foster's and S&N tie up loose ends in Europe...

BELGIUM/AUS: InBev silent as Foster's talk returns

BELGIUM/AUS: InBev silent as Foster's talk returns...

AUS: Beer revamp boosts Foster's earnings

AUS: Beer revamp boosts Foster's earnings...

The winning ownership model, SABMiller lives and the CEO's money worries - The just-drinks Analyst

The winning ownership model, SABMiller lives and the CEO's money worries - The just-drinks Analyst...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?