Foster's Shares Up After SABMiller Speculation, BMI Does Not See Scope For Deal

BMI believes SABMiller is unlikely to acquire Foster's beer business in 2011. The feeling that SABMiller in particular may bid for Foster's beer business as the group demerges its beer and wine businesses is thought to have pushed up the Australian drinks giant's share price by 4% on Monday January 24 2011. Leaving aside the legal wrangling to do with SABMiller's existing business in Australia for now, we do not believe buying Foster's would make much sense unless the price was extremely attractive. In our opinion, SABMiller is likely to be more interested in Guinness, which Diageo may sell, as

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