Beers, SABMiller offers 10 billion dollars but Foster's refuses

Foster's made the big rejection. From the most famous Australian brand of beer came a sharp no to the offer of the English competitor SABMiller. The British had put up 9,6 billion Australian dollars (about 10 billion in US bills) on the plate. That's a hefty number, considering it offered a 14,5% premium to Foster's stock price as of June 2. Too bad that in Australia they have judged it "not adequate". The company's board believed the offer significantly undervalued its assets. An exchange of jokes that has not failed to make its repercussion felt on the markets. In London late in the morning, SABMiller's stock was the worst, down more than three points. On the other side of the planet, however, the shares of the Australian company soared, marking a +13%.