Foster's Group has been forced to quash speculation that the company could become the subject of takeover approaches from InBev and SABMiller, reports Just-Drinks.com. The drinks giant told the Australian Stock Exchange that it knew nothing of any rumoured interest in the company after being asked to explain a jump in its share price.

The company added that it did not have "any other explanation" for the 9% jump in its share price, other than the release of its annual results. Foster's posted a 27% leap in its yearly profits thanks largely to gains from the sale of its Asian brewing operations and rights to the Foster's lager brand in Europe and India.

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