MELBOURNE: Foster's Group yesterday rejected a A$9.5bil (US$10.1bil) cash takeover offer from global giant SABMiller as too low, but investors predicted Australia's largest brewer would succumb to a slightly higher offer.
Foster's, one of the last big prizes in a consolidating global beer market, has high margins and a 50% market share in Australia, where it brews the Victoria Bitter and Pure Blonde brands.
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