SABMiller completes seizure of Foster’s

 In Australia, International, NewZealand

Foster’s is Australian no more.

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Shareholders in the beverages group have overwhelmingly backed a $12.3 billion takeover from global brewing giant SABMiller.

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At a special meeting this morning, 98.1 per cent of proxy votes, or 1.257 billion shares lodged, voted for the takeover, with 0.9 per cent against, placing the brewer that owns iconic brands such as VB and Carlton Draught into foreign hands.

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In early trade, Foster’s shares were flat at $5.38, the the benchmark S&P/ASX200 index was up nearly 3 per cent. The shares will cease trading tomorrow.

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Foster’s chairman David Crawford said today was "an historic day for shareholders". Sydney Morning Herald – Read more…
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