With little prospect of a rival bid, a possibly intransigent Board & FGL about to go ex-dividend, we downgrade to a Neutral recommendation (was Positive).
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Foster's Group (FGL)/Coca-Cola Amatil (CCL) - It's Miller Time
Our analysis suggests SAB can make an offer for FGL at $5.
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Foster's Group (FGL) - Big Fish In A Large Profit Pool
Demerger of Treasury Wine Estates leaves Foster’s as a pure play brewer with ~58% share of the $1.
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Fosters (FGL) - Finally Under Starter's Orders
Fairly valued on a stand-alone basis but with event risk on the upside over the next 6 months we maintain our Positive recommendation.