Pair eyeing Australia's Foster's Group

Photo / Alan Gibson

Molson Coors Brewing Co and Mexico's Grupo Modelo are exploring a joint bid for Australia's Foster's Group amid talk that further suitors may emerge for the maker of VB and Cascade beer.

Speculation of a possible takeover pushed Foster's shares up more than 7 per cent, lifting the value of Australia's largest brewer to A$8.9 billion ($9.5 billion).