Business Services Industry
Foster's bid: it's froth and bubbles.
Australasian Business Intelligence, September, 2006
Byline: Simon Evans
Sep 19, 2006 (The Australian Financial Review - ABIX via COMTEX) -- It has been three weeks since rumours began circulating about a possible takeover of Australian beer and wine group, Foster's. They began when Foster's released its full-year results on 29 August 2006. Since then the stock has risen by 16 per cent, but on 19 September the share price fell, a sign that investors now consider a bid less likely. It would be a tough move, now that Foster's is capitalised at more than $A13 billion. Goldman Sachs JBWere has prepared a list of reasons showing why Foster's is an attractive target, but on balance, it concludes that even private equity firms would be wary.
Publication Date: 20 September 2006
FOSTER'S GROUP LIMITED...
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