Foster’s Group Limited (ASX:FGL) has been accused by SABMiller of making misleading and deceptive statements in presenting its annual profit.
The Australian brewer is expected to defend the claims this week, that said there was no reasonable basis for several forward-looking statements in Foster’s financial results presentation.
SABMiller said if there were a reasonable basis, no information had been provided to allow shareholders to test the basis of the statement.
Foster’s rejected SABMiller’s $9.51 billion takeover offer on August 17, saying it undervalued the company.
Foster’s Group Limited (ASX:FGL) reported a full year net loss of $89 million for the year to June.
