The board of Foster’s Group has recommended to its shareholders that an improved takeover offer by SABMiller is accepted.

The board of Foster’s Group has rebuffed SABMiller's proposed takeover bid. 

SABMiller has proposed to make a conditional, off-market, cash takeover offer for all of the issued shares in Foster’s Group. 

Foster's has rejected a takeover bid from SABMiller. Foster's Group said that it received an "unsolicited, incomplete, non-binding and conditional proposal" from SABMiller to acquire all of the shares in Foster's via a scheme of arrangement at a price of $4.90 per share in cash.

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Nick Strangeway

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