brewer

A week after Foster's (ASX:FGL) and SABMiller agreed to a $10.7 billion takeover deal, Australia's competition watchdog has given its nod, saying the acquisition was unlikely to cut competition for beer supply.

‘‘The ACCC has formed the view that the proposed acquisition is not likely to result in a substantial lessening of competition for the supply of beer,’’ said ACCC Chairman Rod Sims.