Foster’s Group Ltd. , Australia’s biggest brewer, rose the most in almost three months in Sydney trading after a report SABMiller Plc may make a 7 billion pound ($11 billion) bid for its beer division.
Foster’s Group Ltd. rose to the highest in two and a half years in Sydney trading on speculation suitors will raise bids for its wine unit after the company rejected an offer worth as much as A$2.7 billion ($2.5 billion).
Adam Foster ’s annual wine production of 2,500 cases is a fraction of the sales of Foster’s Group Ltd. , the world’s second-largest producer. Yet it’s a factor in breaking up the rival he shares a name with.
Foster’s Group Ltd. , Australia’s largest brewer, said it is “on track” with targeted savings and quality improvements in its Treasury Wine Estates unit as the company prepares to spin off the business next year.
Foster’s Group Ltd. , Australia’s biggest brewer, said shareholders approved the spinoff of its Treasury Wine Estates unit into a separate company with almost 100 percent of votes backing the proposal.