Australian beer giant Fosters recently turned down a $9.5 billion dollar takeover bid from British brewer SABMiller without so much as a counter offer. Needless to say, shareholders were perturbed by CEO John Pollaers’ lack of engagement with the bidders. Pollaers explained that $9.5 billion so severely undervalued the company, that it was not even worth negotiating. That being said, he did express that should the right offer present itself, Fosters could be on the move.
The beer maker most famous for teaching us “how to speak Australian,” teaches us how to play hardball Down Under.
