M & A wrap: Foster’s says “No”

August 18, 2011

Australian brewer Foster’s rejected a $10 billion offer from rival SABMiller for the second time as shareholders hold out for a better offer from the global brewing giant.

English Premier League soccer champions Manchester United has filed a preliminary application with the Singapore Exchange for a planned listing, a source with direct knowledge of the deal said.

Asahi Group Holdings is acquiring New Zealand beverage group Independent Liquor for $1.3 billion, giving the Japanese brewing giant a ready-to-drink cocktail maker to add to its stash of assets in the Oceania market.

An executive of Rovio, developer of the mobile game Angry Birds, said the company was worth several billion dollars, according to Finnish magazine Kauppalehti Optio.

“For a private equity firm that’s looking for the cheapest way to get online, AOL  is trading for 57 cents on the dollar,” reports Bloomberg.

“Groupon’s cash cushion relative to its liabilities is small–and the gap between the two is going the wrong way fast,” reports Business Insider.

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