Foster’s jumps 13% after rebuffing $10 bln bid from SABMiller

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Shares in top brewer Foster’s Group (FGL.AX) jumped 13 percent on Tuesday after it rejected a A$9.5 billion ($10 billion) takeover offer from global brewing giant SABMiller (SAB.L).

Foster’s shares opened at A$5.10 and last traded up 12.8 percent at A$5.11, above SABMiller’s offer of A$4.90 a share.

($1 = 0.945 Australian Dollars)