SABMiller launches hostile takeover bid for Foster’s
SABMiller has launched a hostile takeover bid for Foster’s, worth A$9.5 billion ($10 billion), after the Australian brewer refused to negotiate on its initial proposal two months ago. SABMiller said Wednesday that it would put its A$4.90 per share cash bid – the same as that offered in June, which values Foster’s at 12.5x EBITDA – directly to shareholders.
Analysts had expected SABMiller to wait until after Foster's reported its full-year results next week, which are expected to be weak, but apparently the brewer was spurred into action by the Foster's share...
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