Shareholders Overwhelmingly Approve Foster's Last Shout

[DU99]

A BREWER whose culture and brands took more than 100 years to create was buried in less than 45 minutes as Foster's shareholders overwhelmingly, but still somewhat reluctantly, supported a $12.3 billion takeover by London-based SABMiller.

It took only four hours after the vote in Melbourne yesterday for South Australia's Coopers Brewery to issue a press release crowing at the fact it had zoomed up the ranks to now become the nation's largest Australian-owned brewer.

Such is the demise of the big independent brewers in Australia - No. 2 player Lion Nathan is owned by Japan's Kirin - that Coopers, still family owned and with only 4 per cent of national beer sales, is considered the biggest locally owned beer group.

 

[mje1980]

Sad to say, but if im out now in town, i'd much rather a 150 lashes than a CPA. Haven't had one in a long time, and i clearly remember the last few ( at different places ) seemed different, and not as good as i remember it used to be. I will give it another go next time i see it. Though its hard to find now!, while JS beers are at more and more local pubs/clubs.