SABMiller Announces Offer to Acquire Foster's Group for A$5.10/Share

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SABMiller (OTCBB: SBMRY) has announced a tender offer to acquire Foster's Group Limited for A$5.10 per share or $9.9 billion all together.

Part of the transaction includes that Foster's will bay each shareholder a dividend of $0.30 per share prior to closing. The dividend reflects both the confirmed value of historic tax losses and a better cash/net debt position than assumed in SABMiller's initial proposal.

The proposal represents an acquisition enterprise value of A$11.5 billion, which is a 2.8% increase on the enterprise value of A$11.2 billion implied by SABMiller's initial proposal announced on 21 June 2011.

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