An unnamed source claims Mexico’s Modelo is looking to make a joint bid for the Foster’s Group (ASX:FGL).
Modelo makes Corona beer - a brand Foster’s distributes around Australia.
Modelo will need the support of key stakeholders if it wants to proceed with the deal. Foster’s has gained around 4.5 per cent since it’s spun off Treasury Wine Estates.
For the half year ended December 31, 2010, Foster’s posted a net profit of $312 million.
