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Foster’s Group

Recommended Proposal to Acquire Foster’s at A$5.10 per share

SABMiller plc (“SABMiller”) announces that it has agreed with Foster’s Group Limited (“Foster’s”) a recommended cash offer to Foster’s shareholders at A$5.10 per share (see endnote 1), which values Foster’s equity at approximately A$9.9 billion.

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Foster’s board unanimously recommends shareholders reject SABMiller’s offer

Foster’s board unanimously recommended its shareholders to reject SABMiller’s offer, the company said in a statement on Monday.

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Australia. Foster’s believes the sales will flow

FOSTER’S chief John Pollaers has hit back at claims the company is losing beer market share and playing into the hands of takeover predator SABMiller.

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Foster’s Affirms Rejection of SABMiller’s $9.6 Billion Bid as ‘Inadequate’

Foster’s Group Ltd. (FGL), Australia’s biggest brewer, affirmed its opposition to SABMiller Plc (SAB)’s hostile takeover bid after the cash offer was cut to A$9.25 billion ($9.6 billion) on dividends paid.

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SABMiller to launch Foster’s bid after skirmish

* SABMiller prepares to publish formal bid * Foster’s shares below SABMiller bid price * Foster’s says SABMiller claim “frivolous and petty” * SABMiller says pleased has clarity on Foster’s debt * Foster’s books deferred tax asset of A$447.5 mln

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Foster’s loses ground to rivals in packaged beer segment

FOSTER’S continued to surrender market share in the crucial packaged beer segment in the July quarter, a development that is likely to strengthen suitor SABMiller’s hand in the $9.5 billion takeover battle between the two companies. As Foster’s robustly defended … Continue reading

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SABMiller seeks official review of Foster’s accounts

* Claims statements by Foster’s were “misleading and deceptive” * SABMiller says net debt figures don’t meet Australian standards * Panel to review application to be established on Monday * SABMiller trying everything it can to keep down price-analyst

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Weak Foster’s results give SABMiller’s offer a chance

A sustained appreciation in the value of the Australian dollar or the arrival of an aggressive private equity player are regarded as the only factors that might impede SABMiller’s success in acquiring control of Australian brewer Foster’s.

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Foster’s CEO Spurning SABMiller Remains Open to ‘Sensible’ Takeover Talks

Foster’s Group Ltd. (FGL), Australia’s biggest brewer, is open to discussing a “sensible” bid with SABMiller Plc (SAB) after refusing to enter detailed negotiations on the U.K. company’s hostile A$9.5 billion ($10 billion) offer.

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Bid for Foster’s may need a top-up

FOSTER’S shares pretty much kept pace with the sharemarket’s latest rally yesterday despite a pedestrian June 30 result because there was enough in the profit and what chief executive John Pollaers said about it to suggest that SABMiller will need … Continue reading

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