Foster's shares jump amid report SABMiller has cleared bid
Foster's shares jump amid report SABMiller has cleared bid
Jan 24, 2011 6
(Reuters) - Shares in Australia's Foster's Group (FGL.AX) rose more than 4 percent on Monday following a report that brewer SABMiller Plc (SAB.L) may have cleared some operational hurdles it faced if it decided to bid for the brewer's $10 billion beer business.
Foster's, which plans to split its beer and wine operations into two units this year, is expected to attract interest from potential trade buyers and private equity firms for the businesses, although it said it has only received one formal offer for its smaller wine business so far.
Comments