Thread: Miller Brewing to buy Foster’s for $10.2 BILLION

SAB Miller finally agrees to buy Foster’s for $10.2 billion

Brewing giant SABMiller has finally agreed to buy Foster’s in a deal that values Australia’s largest brewer at 9.9bn Australian dollars ($10.2bn; £6.5bn).

Fosters had rejected SAB‘s previous bid worth A$9.5bn, saying it undervalued the company.

However, the Foster’s board said it would be recommending the latest offer to its shareholders.

If accepted, SAB expects to complete the deal by the end of the year.

Shareholders should receive the offer documents in about six weeks, the brewer said.

The proposal allows for Foster’s to walk away from the deal for A$99m if a higher bid is accepted and completed within 12 months.

‘Outstanding portfolio’

SAB, which owns brands such as Grolsch and Peroni, said the deal would give it access to Australia’s “strong economic growth prospectsâ€

"Oil Cans" (Fosters) is a lot better than Miller IMHO.