Business Services Industry
Foster's bid gains momentum.(Foster's Group's acquisition of Southcorp Holdings Ltd.)(Brief Article)
Australasian Business Intelligence, May, 2005 by Gettler, Leon
May 02, 2005 (The Age - ABIX via COMTEX)
Lonergan Edwards & Associates claims Foster's Group's sweetened offer for Southcorp is reasonable, but still not fair. In April 2005, Foster's raised its bid from $A4.14 a share to $A4.50 a share. In addition, Foster's has waived all conditions, except for a 50 per cent minimum acceptance level. Although Lonergan stands by its initial March valuation, in May 2005 the group has reduced its valuation range for Southcorp to between $A4.30 and $A4.50, citing recent falls on the Australian and global sharemarkets.
Publication Date: 3 May 2005
FOSTER'S GROUP LIMITED - ASX FGL:
SOUTHCORP LIMITED - ASX SRP:
LONERGAN EDWARDS AND ASSOCIATES
LIMITED:
AUSTRALIAN STOCK EXCHANGE ALL...
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