Business Services Industry
Foster's gets the drop on vintner.(Foster's Group Ltd.)(Brief Article)
Australasian Business Intelligence, May, 2005 by Matterson, Helen
May 11, 2005 (The Australian - ABIX via COMTEX)
Australian brewer, Foster's Group, has gained control of Australian wine company, Southcorp. On 11 May 2005, Foster's said that it had gained 50.9 per cent of Southcorp and made its bid unconditional. Foster's will now begin the integration of the two companies. There are expected to be changes to the board and management. CEO, John Ballard, refused to recommend the takeover offer. Foster's needs full ownership to gain the maximum synergies. However, some observers feel that it may have difficulty reaching 90 per cent acceptances.
Publication Date: 12 May 2005
FOSTER'S GROUP LIMITED - ASX FGL:
SOUTHCORP LIMITED - ASX SRP:
PORTFOLIO PARTNERS LIMITED:
AVIVA AUSTRALIA LIMITED...
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