What will almost certainly the last AGM of Foster’s Group was held in Sydney yesterday and judging by the gloomy outlook, the incoming owners SAB Miller are going to have their work cut out making the multi-billion dollar deal pay off in the short term.
Read MoreFoster’s Group has agreed to be bought by global brewing giant SABMiller, for just over 63 cents more than the original $4.90 offer price it knocked back.
Read MoreAs forecast, Foster’s is backing its rejection of the $4.90 a share offer from SABMiller with a big share buyback and a solid final dividend of 13.25c.
Read MoreSo we are going to have a hostile takeover battle from international brewer SABMiller for Foster’s Group.
Read MoreThe market seems to be pricing in a price of around $5.20 to $5.35, according to some reports.
Read MoreThe arguing, or rather debating, over the value of Foster’s is now underway in the wake of the $4.90 a share offer from SABMiller.
Read MoreSABMiller and its local mate, Coca Cola Amatil are dreaming if they think they can get Foster’s for the current cheap 8.2% premium in the $4.90 a share offer, which bobbed up yesterday.
Read MoreFoster’s divorce is on its way with shareholders to vote on the separation of beer and wine in late April.
Read MoreFoster’s Group says it sees increasing support for the demerger of its beer and wine businesses.
Read MoreThe dismemberment of Fosters Group has now started, despite the company yesterday revealing that it had rejected a private equity offer for the company’s underperforming wine assets.
Read MoreMuch of the fizz went out of the Fosters’ share price yesterday, despite the group producing a profit that was better than market forecasts.
Read MoreTalk about dud financial deals, especially takeovers.
Read MoreIn mid-December Fosters Group issued a trading update that warned of the impact of the strong Australian dollar on wine revenues from offshore and the tough trading conditions in some parts of the division here and in foreign markets.
Read MoreOnce again Fosters Group has under-delivered, upsetting investors and raising questions about the capabilities of the management team running Australia’s biggest liquor group.
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
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