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SABMiller yet to make offer for Foster’s
According to reports, SABMiller and Asahi Breweries haven’t made any formal offers for the Foster’s Group’s beer operations.
The Sunday Times has said that SABMiller may make an offer for the Carlton & United Breweries division before it’s split from Foster’s wine business next year. The publication didn’t disclose its sources.
In May, Foster’s CEO Ian Johnston announced plans to pursue a split after a A$7bn expansion into wine was marred by falling prices and shrinking profit margins. No formal break-up is expected until 2011, Johnston said at the time.
As takeover speculation has increased, so too have Foster’s Group shares, which gained 6% in trading today, their highest since November 2008.
If a deal goes through, it could cost the buyer $10.9bn.
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