Foster's continues to refuse SABMiller's takeover bid

The Australian Foster's Group refused again SABMiller's about 10 billion USD worth takeover bid on Thursday, which directed to the company's brewing department.

The Foster's board announced on Thursday that they do not advise the shareholders to accept SABMiller's offer, as it continues to underestimate the company.

According to Moody's; following the acquisition both companies could reduce costs and increase earnings, which could provide an opportunity to lower their prices when competition demands it – reports Index.