Shortage Of Interested Parties Could Let SABMiller Pick Up Foster's On The Cheap

Shares in Australia-based Foster's Group have surged after the firm turned down an AUD9.5bn (US$10bn) takeover bid from brewing giant SABMiller. The bid represented an 8.2% premium on Foster's closing price on June 20, but Foster's suggested that the bid undervalued the company 'in the context of a change of control'. Shares in Foster's surged by around 13% on news that it had turned down SABMiller's bid, suggesting that investors expect a higher bid to be forthcoming, either from SABMiller or another firm that may make an offer now SABMiller has shown its

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