SYDNEY: Foster's Group Ltd, the world's second biggest wine maker, lifted its shareholding in Southcorp Ltd to more than 90%, a threshold that allows it to buy the rest and access the company's cash. Foster's shares rose.
The company also extended its A$3.2bil offer for Sydney-based Southcorp, Australia's second largest winemaker, by a week until June 3, Melbourne-based Foster's said in a statement to the Australian Stock Exchange yesterday. After that offer ends, it will compulsorily buy the remaining shares.
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