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.