SABMiller is assembling a bank group for a loan to back a new bid for Foster's Group Limited
(ASX:FGL). That’s according to bank sources, quoted by Reuters news agency.
This could be one of the biggest deals of the year, with the loan expected to go through. SABMiller is arranging the loan itself, inviting banks to join advisers JP Morgan, Royal Bank of Scotland and Morgan Stanley.
A slightly higher offer for Fosters, that is likely to succeed, is expected.
It’s tipped the announcement will be after the brewer reports full year results on August 23.
For the six months ended December 31, 2010 , Foster’s reported a net profit of $312.7 million.
