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Merrill: Foster’s Could be Next Candidate for Beverage Buyout
The whirlwind of recent beverage buyouts may continue, as Foster’s Group Ltd. (OTC: FBRWY) – Australia’s biggest beer and wine maker – may be a takeover target after it conducts a review of its wine business.
That assessment didn’t come from the company, however, but rather Merrill Lynch & Co. Inc. (MER) analysts. Foster’s Chairman David Crawford said in a conference call that he’d consider “all alternatives†about the company’s wine unit, which is the second largest in the world, Bloomberg reported.
A day before Merrill’s review, Chief Executive Officer and Executive Director Trevor Louis O’Hoy resigned after the company cut…
12Jun2008 | Money Morning | Comments Off | Continued
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