Foster’s rejects SABMiller offer
Business Day - Jun 21st 2011, 12:42
Foster’s Group on Tuesday rejected a non-binding, conditional proposal from the world’s second-largest brewer, SABMiller .
The offer was worth A$4.90 a share, or A$9,5bn ($10,1bn), which represented a significant premium of 14.5% to the trading price of Foster’s of A$4.28 as at 2 June 2011.
"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 said in a statement.
"We continue to believe that the proposal price is attractive and offers good value to Foster’s shareholders. SABMiller can conclude a transaction quickly and will continue to seek engagement with the Board of Foster’s to put an agreed proposal to Foster’s shareholders," SABMiller Chief Executive Officer Mr. Graham Mackay said in a statement.
SABMiller says it sent the offer to the Chairman of Foster’s on 20 June 2011 with the objective of reaching agreement on the implementation of a scheme of arrangement.
Modelo to sound out InBev on bid for Foster’s
Distell waits for tribunal ruling
16/09/2019 - 10:03
Local alcoholic beverages company, Distell Limited, will have to wait for the Competition Tribunal’s decision whether or not global beer brewer Anheuser-Busch (AB) InBev and SABMiller plc (SAB) have breached their merger conditions by striking exclusive deals with outlets.
Distell and AB Inbev square off in booze showdown
13/09/2019 - 10:28
Exclusive branding arrangements with liquor outlets and agreements with sports stadiums took centre stage at Competition Tribunal hearings on Thursday, into Distell's accusation that Anheuser-Busch InBev (AB InBev) is contravening the conditions of its 2016 merger with SABMiller.
Consumers drink while retailers keep the tills active and lights on
10/09/2019 - 11:19
One in five South Africans is unemployed and economic growth remains anaemic, but retailers manage to grow, demonstrating that they still have some defensive qualities.
The SA liquor market is changing - these are the new favourites, says expert
21/08/2019 - 09:05
The way South Africans are consuming liquor is changing from traditional, heritage brands to modern, urban, "idiosyncratic" brands, according to Rowan Leibbrandt, founder of fine liquor merchants Truman & Orange.
#WomensMonth: The art of brewing with a woman’s touch
19/08/2019 - 13:36
SAB which boasts 57% of women brewers in South Africa, believes Women’s Month provides the perfect opportunity for our country to reflect on how far we have come in changing the perception of women and beer. Since prehistoric times, the important responsibility of brewing beer was almost always undertaken by women in a community, but since the industrial revolution in the 18th Century, it has become more of a male-dominated industry. Now is the time for women to take their power back and reassume their rightful place as society’s leading brewmasters.