Foster's investors' fury over sale to SABMiller

Small shareholders are so angry at Australian icon Foster's for capitulating to a £6 billion takeover by SABMiller that at least one broke down in tears.

At what is highly likely to be the beer giant's last annual meeting in Melbourne, executives were heckled and berated by investors.

In particular, they were annoyed that management decided a bigger parent was needed while claiming the business is in good shape.

One small shareholder, Douglas Fleming, said to wide applause: "You are now presenting us with a bright future for Foster's and you are turning around and getting rid of this company. It is disgraceful of the board."

Another shareholder's question was inaudible as she broke down in tears, according to Reuters.

In September, Foster's agreed to accept a sweetened A$9.9 billion ($10.3 billion) offer after a three-month battle by SABMiller.

Around 200 shareholders gathered to hear management defend the takeover.

Management argue that the deal offered the certainty of cash in a volatile global environment.

The takeover, which requires approval of 75% of votes at a meeting due in early December, has wide support from institutional investors.