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SAB Miller launches £6b hostile takeover bid for Foster's

17 August 2011 by
SAB Miller launches £6b hostile takeover bid for Foster's

Brewing giant SAB Miller has made a £6b hostile takeover bid for Foster's Group.

The move comes after Foster's rejected an earlier offer from SAB Miller in June, saying it was too low.

"As there has been no willingness to engage in relation to SAB Miller's proposal on the part of the Foster's Board, SAB Miller has decided to make an offer to Foster's shareholders directly," SAB Miller said in a statement this morning.

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By Neil Gerrard

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