According to a report in Fairfax Media, SABMiller, the world’s second-biggest brewer, has overcome key obstacles which previously prevented it from making a bid for Foster’s Group Ltd
(ASX:FGL).
SABMiller spent the last few months working with its lawyers over legal and commercial issues that hindered its takeover offer and is now in the clear to make a bid.
Meanwhile, speculation is mounting that Foster’s is ready to announce board approval of its planned demerger when it releases its interim results on February 15.
For the year ended 30 June 2010, Fosters reported a net loss of $463 million.
