SABMiller Cleared to Buy Foster’s for $12 Billion

Australian trade regulators have cleared British beverage company SABMiller’s takeover of the Australian-based Foster’s Group claiming that the acquisition would not significantly alter the beverage market landscape.

While the $12.3 billion takeover is quite a large merger, the new SABMiller-Fosters will continue to face competition in the beverage market form Lion, the second largest player in Australia’s beer market.

The merger must still undergo approval from the Foreign Investment Review board before being finalized.

(via The Australian)