Australia’s largest brewer Foster’s Group Ltd, saw a rise which is the most in three months while trading in Sydney after SAB Miller Plc reported that they might bid to acquire the beer division of foster for seven billion pound ($10.9 billion).

Since May twenty sixth, Foster has gained its biggest intraday gain of six decimal five percent. The company saw a rise of five decimal eight percent in its shares and traded at six decimal one sis Australian dollar as found at eleven forty. It got a market value of eleven decimal nine billion Australian dollar

According to the reports of Sunday Times SAB Miller might come up with the offer of acquiring the Carlton & United Breweries division before SAB Miller splits from Foster’s wine business in the next year.  

Foster, in a report in its filing with the stock exchange stated today, that it is not conscious about any unannounced information related to it that explains its trading in the company’s securities done very recently.  

Both Troy Hey and Nigel Fairbrass, spokesman of Foster and SAB Miller respectively declined to comment on the matter.  

In the month of May Chief Executive Officer of Foster, Mr. Ian Johnston had announced the company had plans to split its beer and wine divisions. He added that the split won’t come before 2011.  

SAB Miller by going into that deal might gain a position which would allow the company to challenge Anheuser-Busch InBev the Belgium based largest brewer of the world.   

According to Reuters Foster’s group has not received any formal acquisition approaches from possible bidders for its beer division.  

According to one source who declined to disclose name SAB and Ashai are the two names that are in the air for the takeover.