Molson Coors Possible Bidder for Foster''s
June 1, 2010
According to the Associated Press, Geoff Molson, a member of the Canadian founding family of Molson Coors Brewing Co., wants to see the company become a top global beer producer but won''t say if it is interested in making a bid for Australia''s Foster''s. With its five percent stake in Foster''s Group Ltd., Molson Coors is seen as a possible bidder for the company, which announced that it will split its beer and wine divisions. Foster''s move to create stand-alone companies is expected to attract the interest of large global brewers with one analyst saying they would have to pony up about $11 billion for the beer business. Foster''s controls about half of Australia''s beer market. Among possible bidders are Diageo, Schweppes, SABMiller''s joint venture with Coca-Cola Amatil, along with Suntory Holdings Ltd. and Sapporo Holdings Ltd. of Japan.