Foster’s Accepts $10.2B SABMiller Offer

Law360, New York (September 21, 2011, 3:17 PM EDT) -- SABMiller PLC on Wednesday announced a deal to acquire Australian beer giant Foster's Group Ltd. for about AU$9.9 billion (US$10.15 billion), or AU$5.10 per share.

The agreement ends a hostile takeover battle by SABMiller, which had initially bid for Foster's on June 21.

The Foster's board agreed to recommend the transaction to shareholders, noting that it would also pay them a special return of 30 cents per share prior to closing, “reflecting both the confirmed historic tax losses and a better cash/net debt position than assumed...
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