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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