Foster's Group was acquired by SABMiller plc in December 2011. On 21 September 2011, Foster's Group Limited announced that it had entered into a Scheme Implementation Deed with SABMiller to deliver Foster’s shareholders a total of $5.40 cash per Fully Paid Share.
The Directors unanimously recommend voting in favour of the Transaction Resolutions. At the Scheme Meeting and General Meeting On 1 December 2011, shareholders overwhelmingly voted in favour of the acquisition.
On 2 December 2011, the Supreme Court of Victoria granted approval of the Scheme, and consequently, this was also the last day of trading of Foster’s Group shares on the ASX.
SABMiller, through SABMiller Beverage Investments (its indirect wholly owned Australian subsidiary), acquired all Foster's ordinary shares on 16 December 2011. The transaction was implemented by way of a scheme of arrangement, whereby shareholders received $5.40 per fully paid share. Holders of Partly Paid Shares are entitled to between $1.36 and $2.17 cash per Partly Paid Share (depending on the unpaid portion of the issue price of the Partly Paid Shares).
An Explanatory Booklet containing information relating to the Proposal, the reasons for the Directors’ unanimous recommendation and details of the shareholder meetings was sent to Foster’s Shareholders and can be downloaded here.