London has sights on Foster’s

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London based SABMiller pic, one of the worlds largest brewers, with a portfolio of brands including international beers Peroni Nastro Azzurro, Miller Genuine Draft, have taken an interest in Foster’s group. The board at Foster’s has rejected a bid by SABMiller pic to acquire all shares in Foster’s at a price of $4.90. ‘Foster’s Group Limited (Foster’s) announces that it has received an unsolicited, incomplete, non-binding and conditional proposal from SABMiller plc to acquire all of the shares in Foster’s via a scheme of arrangement at a price of $4.90 per share in cash.
The Board of Foster’s believes that the proposal significantly undervalues the company in the context of a change of control and, as such, it does not intend to take any further action in relation to it.’ Foster’s Group.

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