SABMiller Buying Fosters for $10.2 Billion

Sept. 22, 2011
SABMiller Plc, parent company of MillerCoors, agreed to pay A$5.10 a share for Australia's Foster’s Group Ltd.
On September 21, SABMiller Plc, parent company of MillerCoors, announced it would pay A$9.9 billion ($10.2 billion USD) to acquire Australia's Foster’s Group Ltd. Foster’s shareholders will also get 30 cents a share as part of a previously announced capital return and a 13.25-cent final dividend. According to reports, this is SABMiller's largest acquisition to date; it will give the London-based company access to nearly half of Australia's beer market. SABMiller is the world's second-largest brewer by volume. Its initial efforts to buy Foster's were turned down due to Foster's management feeling SABMiller had undervalued the company. "Foster's has a long-standing and proud reputation as one of the leading companies in Australia," said SABMiller's Chief Executive, Graham Mackay. "We look forward to working with Foster's employees and other stakeholders to ensure the success of Foster's in the future as the largest brewer in Australia with an outstanding portfolio of brands."The acquisition is expected to be completed before the end of 2011.

Sponsored Recommendations

Learn About: Micro Motion™ 4700 Config I/O Coriolis Transmitter

An Advanced Transmitter that Expands Connectivity

Micro Motion™ G-Series Coriolis Flow and Density Meter

Micro Motion G-Series: market-leading compact design featuring advanced process diagnostic capability.

Embracing Sustainability using Advanced Measurement Instrumentation

A practical guide to greeningyour brewing operationsusing advanced measurementinstrumentation.

Get Hands-On Training in Emerson's Interactive Plant Environment

Enhance the training experience and increase retention by training hands-on in Emerson's Interactive Plant Environment. Build skills here so you have them where and when it matters...