SOUTHCORP WAITS FOR INCREASED BID
Published: 23 July, 2008
Southcorp's board has told its shareholders that the A$3.1 billion takeover launched by rival Foster's last week is unlikely to be the final offer (see Harpers, 21 January). In a letter posted on the Australian Stock Exchange, Southcorp's chairman Brian Finn said: You should be aware that the sale agreement between Foster's and the Oatley family allows for them to benefit from any increased price. Your board believes that this is evidence that the A$4.17-a-share Foster's offer may just be its opening bid.'
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