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Gresham wins deal of the year

23 Feb 2012

Gresham receives awards for its role in SABMiller's acquisition of Foster's Group ($12.3bn).

Best M&A Deal 2011 - FinanceAsia Awards

M&A Deal of the Year - Insto 2012 Distinction Awards 

"SABMiller’s acquisition of Foster’s wins this award for its complexity and bravado. In an unprecedented turn of events, SABMiller was able to execute the deal through a scheme of arrangement, having convinced the securities regulator to relieve it from making a takeover bid even after announcing its intention to do so. SABMiller moved quickly, leaving Foster’s management little time to react to announcements, but Foster’s also put up a good defence, pushing the US brewer to increase its price from A$4.90 a share to A$5.53. Despite its size and the fact that Foster’s is a national icon, a deal was agreed only three months after the initial proposal." - FinanceAsia

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