SABMiller hoping to out-wait Foster's shareholders at the bar
SABMiller hoping to out-wait Foster's shareholders at the bar
Sep 8, 2011 6
WE have reached one of those awkward times in a pub when everybody knows whose shout it is but that person is not moving any closer to the bar.
In the case of the takeover of Foster's, it is the bidder SABMiller that is nursing that almost empty pot, hoping that it can out-wait thirsty shareholders until, in desperation, they finally accept its $4.77 a share offer.
The problem for Foster's -- notwithstanding its initial decisive victory before the Takeover's Panel -- is that so far no other global brewers have arrived to add some competitive tension to this takeover.
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