SABMiller said Wednesday that it was possible to win the support of the Executive Board for the acquisition of the Australian Brewer foster's group, after one its offer, approximately $10.18 billion EUR.
The offer, subject to approval by shareholders and regulatory authorities, would be Australia's largest brewery in the portfolio of the world's second largest brewery by volume.
London SABMiller said, that it unanimous support from the foster-Board to offer 5.10 Australian dollars (CDN$ 5.21) per share had. Foster said, the remaining provisions of the agreement the total to 5.5325 raised Australian dollars per share.
The Australian company had last month rejected an offer, which it estimated at 4.90 Australian dollars per share.
Foster's Chairman David Crawford said that the improved offer is "convincing value for foster's shareholders."
SABMiller of brands include Grolsch, Peroni and Miller Lite, and it already has the foster trademark rights in India and the United States.
Foster, who has seven of the 10 brands of beer in Australia, last year reported a loss of 89 million Australian dollars (CDN$ 90,9 million) than beer sales fell by 6 per cent.
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