| Takeover rumours circling beverage giant Foster's Group are proving persistent, thanks to a share price that keeps going from strength to strength, reports Australia's The Age newspaper.
Shares in the company jumped more than 2% on Monday - albeit on ordinary trading volumes - sparking speculation that a long-mooted takeover bid was just around the corner.
Word is that one or more private equity firms are preparing for a tilt at Foster's, with the attraction being the company's beer and ready-to-drink (RTD) beverage assets. They are not so interested in the wine business, apparently. Perhaps they have a buyer lined up for that.
Macquarie Bank's name was the latest to be bandied about as an interested party, adding it to a crowded group of possible suitors that already includes SABMiller, InBev and even the Sultan of Brunei.
Foster's boss Trevor O'Hoy has reckoned the company has 12 months before raiders start circling due to the complications of Foster's integrating the Southcorp wine business, but a buyer with only a taste for beer and RTD might see Foster's as ready to drink.
http://www.theage.com.au |
