SABMiller Buys Foster for $9.9 Billion

From the Wall St Journal:

LONDON—Iconic Australian brewer Foster's Group Ltd. dropped its resistance to a takeover by SABMiller PLC and agreed to a sale to its U.K. rival for more than $10 billion.

The deal values Foster's at 5.10 Australian dollars a share, or A$9.9 billion (US$10.17 billion), 4% above what SABMiller offered when it kicked off its pursuit of the company in June.

SABMiller's original offer came just a month after Foster's completed the separation of its beer and wine operations. Although many industry watchers expected the demerger to lead to multiple bids for Foster's…


About Bil Cord

Founder, owner, author, graphic designer, CEO, CFO, webmaster, president, mechanic and janitor for mybeerbuzz.com. Producer and Co-host of the WILK Friday BeerBuzz live weekly craft beer radio show. Small craft-brewer of the craft beer news sites and one-man-band with way too many instruments to play.

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