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Magazine Archives: June 30, 2005

Southcorp Accepts Foster's Bid, but Questions Remain

Harvey Steiman
Issue: June 30, 2005

After initially resisting, financially troubled Southcorp gave in to the Foster's Group takeover attempt in late April, with the majority of its board accepting an increased bid of $2.5 billion. While Foster's tries to close the deal with shareholders, little has been disclosed about what the merger of two Australian giants will mean for their wines.

For the full article, check out the new issue of Wine Spectator, on newsstands June 30, 2005.

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