No higher bid, but the red stuff's on offer.(Foster's Group Ltd., Southcorp Holdings Ltd.)(Brief Article)

Australasian Business Intelligence, March, 2005 by Chessell, James

Mar 07, 2005 (The Sydney Morning Herald - ABIX via COMTEX)

Foster's Group has made a hostile $A3.1 billion offer for Australian wine company Southcorp. Foster's has now extended this bid to 31 March 2005. Southcorp is trying to talk down the bid, because it does not want to be taken over. Analysts believe that Australian wine groups are still having trouble selling enough in the US wine market, which is still sluggish. Goldman Sachs JBWere has indicated that Foster's Group's Australian wine brands are still lacklustre in the US market. Southcorp is having some success with its Little Penguin wine brand in the US.

Publication Date: 8 March 2005

FOSTER'S GROUP LIMITED - ASX FGL: 

SOUTHCORP LIMITED - ASX SRP:

THE LITTLE PENGUIN WINES:...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.