Standing listening last night to The Macallanís brand ambassador, Joy Elliot, who was conducting a tasting of the new 1824 Series at the Whisky Shop in Londonís Piccadilly, I could not resist a feeling of dťjŗ vu.
SAB is offering A$4.90 per fully paid ordinary share, reduced by the amount of any dividend or distribution paid or declared by Fosterís after the announcement.
A statement from SABMiller continued: "The offer will extend to all the partly paid ordinary shares in Fosterís. The price under the offer for each partly paid ordinary share will be A$4.90 in cash less any amount unpaid on the relevant partly paid share, reduced by the amount of any dividend or distribution paid or declared by Fosterís after the date of this announcement, subject to a minimum price of A$0.01.
"The offer will be subject to the fulfilment of a number of conditions, many of which are customary in a change of control situation."
On June 20 2011, SABMiller approached Fosterís with a confidential proposal to acquire all of the ordinary shares in Fosterís by way of a Fosterís recommended scheme of arrangement at A$4.90 per share in cash.† On June 21 2011, Fosterís announced that it had rejected the SABMiller proposal.
The statement continued: "SABMiller believes that the proposal put to the Fosterís Board is attractive and should be put to Fosterís shareholders.† As there has been no willingness to engage in relation to SABMillerís proposal on the part of the Fosterís Board, SABMiller has decided to make an offer to Fosterís shareholders directly."