SAB Miller steps up Foster’s bid

SAB Miller has turned hostile in its £6bn bid to acquire Foster’s lager brand owner Foster’s Group.

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The British based brewer has taken its offer directly to shareholders in the Australian beer and wine company.

The bid comes two months after SAB Miller’s first bid was rejected by the Foster’s board.

A successful bid would bring the Foster’s lager brand into a portfolio that already includes Peroni, Pilsner Urquell and Miller Genuine Draft.

It is not known how any acquisition would impact Foster’s Group’s current relationship with Heineken, which distributes and markets the Foster’s lager brand in the UK.

Foster’s has focused marketing activity on comedy in recent years, sponsoring online comedy shorts and original comedy on Channel 4.

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