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http://www.investegate.co.uk/Article.aspx?id=201110190700174253Q
Societe Generale initiates sell on SABMiller, target 1,880p.
Bernstein downgrades SAB Miller from outperform to market perform, target price cut from 2250p to 2000p.
Jefferies International upgrades SABMiller from hold to buy, target price raised from 2279p to 2530p.
sab miller agrees to buy foster for $5.10 a share
....anybody got the latest "inside" news on SAB?
SABMiller said to up Foster's bid to A$5 Date: Tuesday 13 Sep 2011 LONDON (ShareCast) - SABMiller is planning to increase its offer for Australian brewer Foster’s to A$5 from A$4.90, according to speculation reported in the Daily Mail. The board of Foster's urged shareholders to reject the earlier A$4.90 per share offer from SABMiller, brewer of Grolsch, Peroni Nastro Azzurro and Miller Lite, saying the terms undervalue the company. The offer from SABMiller is subject to a number of conditions and sezing on this, the Foster's board argued that "the high level of conditionality further detracts from the proposed offer." SABMiller has set a minimum acceptance level of 90% as a condition of the offer, which is also subject to assurances from the Foreign Investment Review Board and the Australian Competition and Consumer Commission that the bid will not face regulatory barriers. At 09.20, shares in SABMiller were down by 38p at 2,159p.
Grolsch and Peroni beer giant SABMiller is set to launch a formal £6.2billion takeover bid for Foster’s after regulators rejected its claim that the Australian brewer had made “misleading and deceptive” statements over its future earnings and debt levels. The FTSE 100 firm had turned more aggressive in its determination not to overpay for Foster’s but suffered a setback as Australia’s Takeovers Panel ruled it would not investigate as “there was no reasonable prospect it would make a declaration of unacceptable circumstances," writes the Daily Express.
Foster’s chief executive John Pollaers has characterised SABMiller’s A$9.5bn hostile bid as a “slow seduction”, while putting the ball firmly back in the court of the UK-listed brewer. Mr Pollaers’ comments come as SABMiller is putting the finishing touches to a formal bid, which will be put directly to the Australian brewer’s 150,000 shareholders within the next fortnight, the Financial Times reports.
favor hopefully....atb
on this opening down tomorrow as I have traded this up and down from about 2020 - 2145 on this and it hasnt broke out for a while, heres hoping it opens low and I can make a few quid, surprised it broke 2100 but at the rate the markets are going there should be bad news due to send it back down soon enough even if its blue tomorrow, JMO.
Good share plenty growth and should move up with the FTSE if that ever does average down late on yesterday all good now hopefully. Good entry price tho. JMO
Foster's gives red light to amber nectar bid By John Harrington Date: Thursday 18 Aug 2011 LONDON (ShareCast) - Having rejected SABMiller's takeover approach in private, Australian brewer Foster's has now done so in public, after the multi-national brewer took its US$10bn bid direct to Foster's shareholders earlier this week. The board of iconic Aussie brewer Foster's has urged shareholders to reject the A$4.90 per share offer from SABMiller, brewer of Grolsch, Peroni Nastro Azzurro and Miller Lite, saying the terms undervalue the company. The market seemed to agree, though Thursday's closing price of A$5.00 for Foster's shares hardly represented a ringing endorsement of Foster's chances of surviving as an independent entity. The offer from SABMiller is subject to a number of conditions and sezing on this, the Foster's board argued that "the high level of conditionality further detracts from the proposed offer." SABMiller has set a minimum acceptance level of 90% as a condition of the offer, which is also subject to assurances from the Foreign Investment Review Board and the Australian Competition and Consumer Commission that the bid will not face regulatory barriers.
2074 GL
SAB Miller Goes Hostile With Fosters' BidAugust 17 2011 - SAB Miller has turned hostile with its $10bn takeover bid for Australian rival Fosters after failing to persuade the target’s board to negotiate two months after the UK-listed brewer made its initial offer. SAB Miller shares rose 1.3% after the company said it was taking the bid directly to Fosters’ shareholders. SAB Miller said in a statement that it believed “the proposal put to the Foster's Board is attractive and should be put to Foster's shareholders. As there has been no willingness to engage in relation to SABMiller's proposal on the part of the Foster's Board, SABMiller has decided to make an offer to Foster's shareholders directly.” The Financial times said that the aggressive move by the world’s second-largest brewer by sales surprised analysts, who had expected the group to wait until after Foster’s reported full-year results next Tuesday. SABMiller may have been spurred to action by the view among some analysts that Foster’s will report weak full-year numbers including a decline in beer profits. SABMiller’s hand has also been strengthened in recent weeks by the global stock market sell-off which saw Foster’s shares fall earlier this month.
Hopefully opens lower tom, I think it should 30 - 60 points down. GL
I must be getting better down 50points at 8.15am up 15points by 9am, lol. But seriously can see this on an uptrend till Friday anyway and then re assess. ATB
yesterday may dip in again in the next ten as can see this recovering later today.....GL
Sounds like a very decent entry DAV13
the link http://www.investegate.co.uk/Article.aspx?id=201108170700135040M
$4.90 a share...........ATB
Got in just below 2100 and think it's a good steady share withs a good upside holding till I see 2300. Gl
Nomura upgrades SABMiller to buy, target price raised from 2150p to 2400p.
The negative shareholder reaction to the beer giant SABMiller‘s A$11.2bn (GBP7.5bn) bid for Foster’s last month was understandable. Probably the only debatable decision during his 12-year tenure has been the $5.6b (GBP3.5bn) acquisition of the US brewer Miller in 2002, so the prospect of another mature markets deal was bound to cause nervousness. If investors have doubts over a Foster’s bid, they should consider chief executive Graham Mackay’s record during the past 12 deal-laden years: SABMiller has delivered growth in total shareholder returns of 579%. Hold, says the Times.
SABMiller adds M&A executive to Group Executive Committee Date: Monday 27 Jun 2011 LONDON (ShareCast) - Brewing giant SABMiller said Domenic De Lorenzo, who is responsible for mergers and acquisitions, corporate strategy and development, will join its Group Executive Committee, effective 1 July. This announcement comes a week after the Australian brewer Foster’s Group rejected SABMiller’s A$4.90 per share proposal. On 21 June, Foster's Group board rejected SABMiller's merger deal saying that the offer significantly undervalues the company. SABMiller, in its statement, highlighted that De Lorenzo was part of many of its key transactions, including Pilsner Urquell, Miller Brewing Company, Peroni, Bavaria and Grolsch, and the formation of the MillerCoors joint venture. At 11.10am, shares of the company were trading up 0.9% at 2,114p in London.