Cerberus Making a Play for Constellation?
Rumors are circulating in the Australian press that Cerberus - yes, the same American private equity group that made a bid as high as $2.5 billion for Foster's wine unit - is considering making a bid for Constellation Brands or just the Australian business. This was first reported by the Australian Financial Review. An unconfirmed report today said a private equity group has made an offer for over $30 a share. Recall Constellation ended talks with Australian Vintage to combine its Australian and UK operations in April.
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