Foster's Says Aware Of Speculation Of A Bid For The Company
June 03 2011 - 12:03AM
Dow Jones News
Australian brewing giant Foster's Group Ltd. (FGL.AU) said
Friday it is aware of speculation about a bid for the company but
not aware of any unannounced information that could explain a jump
in its share price.
Foster's was responding to a letter from the Australian
Securities Exchange about the company's share price, which had
risen by 5.1% at the time the letter was written.
Mexican brewer Grupo Modelo SAB de CV (GMODELO.MX) and North
American rival Molson Coors Brewing Co. (TAP) have been reportedly
exploring a possible joint bid.
At 0430 GMT, Foster's shares were up 5.4% at A$4.51.
-By Gavin Lower, Dow Jones Newswires; 61-3-9292-2095;
gavin.lower@dowjones.com
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