News: September 2011

The board of Australian brewing group Foster’s is recommending that shareholders accept the latest bid for the business by SABMiller.

Foster’s – brewer of brands such as Carlton, Victoria and Castlemaine, as well as Foster’s itself – initially rejected a $9.5 billion-Australian dollar bid in June, but an increased offer, valuing the company at $9.9 billion Australian dollars, has now been deemed appropriate.

Shareholders will have the final say in a meeting likely to be held in December.