Full Steam Ahead For SABMiller's $9.8B Foster's Deal

Law360, New York (September 28, 2011, 12:46 PM EDT) -- SABMiller PLC's AU$9.9 billion (US$9.8 billion) bid for Australian brewer Foster's Group Ltd. cleared a regulatory hurdle Wednesday when Australian authorities said it would not dampen competition in the beer market.

The Australian Competition and Consumer Commission said Lion Nathan, the country's second-biggest beer label, will provide a sufficient counterweight to the merged company, which will combine Foster's market-leading AU$2.3 billion in annual sales with London-based SABMiller's fast-growing Australian operations.

“The ACCC has formed the view that the proposed acquisition is not likely to result in...
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