Australian Lawmaker Katter Against SABMiller's Bid For Foster's

Australian independent lawmaker Bob Katter said Tuesday that he opposes the 9.51 billion Australian dollar ($9.98 billion) bid by global brewer SABMiller PLC (SAB.JO) for Australia's largest beer maker Foster's Group Ltd. (FGL.AU).

Katter, one of four independent lawmakers whose votes are crucial to passing laws for Australia's minority government, has criticized the acquisition of Australian companies by foreign firms.

"We need to protect and defend the farm from foreign vandals," he told Dow Jones Newswires.

Katter wants a "proper" oversight tribunal created that ensures strategically important local industries aren't taken over by foreign buyers.

Foster's has rejected the bid by SABMiller, saying it undervalues the company.

-By Gavin Lower, Dow Jones Newswires; 61-3-9292-2095; gavin.lower@dowjones.com

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