LONDON — European brewer SABMiller, whose brands include
Peroni, Grolsch and Miller, is believed to have spent as much as 120 million
pounds ($198 million) buying rival Foster’s Group Ltd. shares in recent days as
part of a hostile bid, The
Bankers acting for SAB are understood to have purchased
small blocks of shares from hedge fund managers at prices below the AUD
$4.90-a-share offer price they have made public.
has two months from August 16, when it made its hostile offer, to make a formal
approach to investors.