SABMiller Chief Clinched Foster’s Bid Without Australia Trip

SABMiller Plc Chief Executive Officer Graham Mackay managed to snare the biggest Australian brewer without setting foot in the country.

Following a three-month pursuit that turned hostile, Mackay met Foster’s Group Ltd. Chairman David Crawford at a conference in Istanbul last week, two people with direct knowledge of the negotiations said. The meeting came after Foster’s approached its suitor following indications from some of its largest investors that they’d accept a higher bid, one of the people said, declining to be identified because the talks were private.