SABMiller Says Will Continue To Seek Engagement With Foster's Board
June 20 2011 - 8:15PM
Dow Jones News
SABMiller PLC (SAB.JO) said Tuesday it will continue to seek
engagement with the board of Foster's Group Ltd. (FGL.AU) after the
Australian brewer rejected its 9.51 billion Australian dollar
(US$9.98 billion) offer.
SABMiller sent the proposal to Foster's chairman Monday, in
hopes of reaching an agreement on the implementation of a scheme of
arrangement.
"We continue to believe that the proposal price is attractive
and offers good value to Foster's shareholders," SABMiller Chief
Executive Officer Graham Mackay said in a statement.
"SABMiller can conclude a transaction quickly and will continue
to seek engagement with the board of Foster's to put an agreed
proposal to Foster's shareholders," he said.
-By Cynthia Koons; Dow Jones Newswires; +61-2-8272-4691;
cynthia.koons@dowjones.com
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