September 28/Sydney/Australian Associated Press -- Australia’s competition watchdog has cleared beverage giant SABMiller to buy Foster's for $10.7 billion, saying the takeover will not lessen competition for the supply of beer. The Australian Competition and Consumer Commission (ACCC) said it would not oppose the proposed takeover of Foster's by SABMiller, in a statement.
"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," ACCC chairman Rod Sims said in the statement.