Woop woop, there it is
Two days after acquiring a 19% stake in Southcorp, Foster’s has now made a bid for the whole company offering A$4.17 a share for the whole company, valuing it at A$3.1 billion ($2.35 billion). But Southcorp rejected the bid calling it “inadequate and opportunistic.”
Shares of Southcorp surged 11 percent in anticipation of a rival bid, most likely from Diageo or Constellation, both of whom made acquisitions just last month.
More globalization in the glass.
Jan
16
2005
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