FDBusiness.com

SABMiller to Renew Foster’s Bid

 Breaking News
  • AB InBev to Sell Australian Business For US$11.3 Billion to Asahi Group Anheuser-Busch InBev has agreed to divest Carlton & United Breweries (CUB), its Australian subsidiary, to Asahi Group Holdings for Au$16.0 billion, (US$11.3 billion) in enterprise value. The transaction represents an implied multiple of 14.9x 2018 normalised EBITDA. As part of this transaction, AB InBev will grant Asahi Group Holdings rights to commercialise the portfolio of AB [...]...
  • UK Spirits Boom Shows No Signs of Slowing Spirits producers across the UK are gearing up to dramatically increase production over the next 12 months amid signs that the boom in UK spirits is set to continue, according to research conducted by a campaigning alliance that has just been launched. A poll by Survation for the newly-established UK Spirits Alliance has found that 65 [...]...
  • Mondelēz International Completes Acquisition of Majority Interest in Perfect Snacks Mondelēz International has completed its acquisition of a majority interest in Perfect Snacks®, a pioneer in the fast-growing refrigerated nutrition bars segment with a range of offerings including Perfect Bar, The Original Refrigerated Protein Bar™, and Perfect Snacks’ other lines of organic, non-GMO, nut-butter based protein bars and bites. “The Perfect Snacks majority acquisition further expands [...]...
  • Interim Revenue and Profits Up at Nichols Nichols, the UK-based soft drinks group, has reported a 10.2% increase in revenue to £71.6 million and a 2.0% rise in profit before tax to £13.3 million for the half year ended 30 June 2019, compared to the corresponding period in the previous year. EBITDA increased by 9.7% to £15.3 million. To support the trading [...]...
  • First Milk Announces Proposed Changes at Scottish Creameries First Milk, the UK dairy co-operative, has announced the commencement of employee consultation about proposed changes at its Scottish Creameries. The Scottish Creameries were put up for sale in April 2018 when First Milk announced that its Campbeltown and Arran Creameries were not core to its business strategy for the future. Despite significant effort over the [...]...

SABMiller to Renew Foster’s Bid

SABMiller to Renew Foster’s Bid
August 15
13:39 2011

SABMiller is reported to be planning to renew its efforts to acquire Australian brewer Foster’s. Foster’s is due to report a major fall in brewing profits when it announces its full year results on August 23rd, leading to a further decline in its share price.

 

SABMiller made its initial offer of A$11.2b (Eur8.1b) in June but with no rival bid emerging, the Austalian brewer’s share price has been tumbling, making SABMiller’s bid increasingly attractive. SABMiller is expected to increase the pressure on the Foster’s board to open talks on its current bid or a slightly increased one.

 

According to Reuters, analysts initially expected that SABMiller would have to pay up to A$5.20-A$5.40 a share to succeed, but now believe that A$4.90-5.10 would be sufficient.

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 17, 2019Future Food-Tech
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements