Shop-A-Holics Anonymous
What’s the cure for those who shop until they drop?
Usually, a huge bank overdraft. However, that’s where the analogy between us and them, big business that is, ends. What does Foster’s do now that acquisitions are off the agenda and wine margins get eroded in the important North American market? Well, the drinks group is buying back shares. The Foster’s Group Limited (Foster’s) announced an off-market buy-back tender of between AUD 700 million and AUD900 million (approximately 6.5 percent to 8.5 percent of Foster’s issued capital), subject to the buy-back price. It is Foster’s third buy-back in recent months, taking the total to be returned to shareholders to about AUD1.6 billion (EUR967 m). What’s he to do? I think we should be told..
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