News: Fosters takeover not ruled out

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Foster’s Group Limited (ASX:FGL) says SABMiller’s takeover offer was so low it’s not worth talking about.



The brewer’s chief executive told a business lunch on Friday that the $9.5 billion offer was not enough, although takeover talks have not been ruled out.



But no bidders have emerged since the offer last month, and analysts say SABMiller might be reluctant to bid against itself.



On Friday, Foster’s launched a new logo to rebrand itself in a changing beer market.



In the second half of last year, Foster’s reported a profit of $312.7 million.