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Apr 2005 Issue of Wine Business Monthly
Australian powerhouses Southcorp and Foster's Group continue to engage in a takeover struggle, which began after Foster's took an 18.8 percent stake in Southcorp in January. Despite sharp criticism from analysts regarding the move, Foster's seems intent on moving forward. In response to the hostile takeover bid, Southcorp told stockholders the company was worth 44 percent more than the offer, as determined by an independent evaluation, and then proposed the companies merge their wine businesses....
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