London’s Sunday Times is giving credence to the rumors and is reporting that SABMiller is seriously considering buying Carlton & United Breweries from the Foster’s Group, the makers of Foster’s, for $10.9 billion.

Earlier this year the Foster’s Group announced that next year that they would split their wine and beer divisions, and rumors began of potential buyers. Since SABMiller already owns the rights to Foster’s in the U.S. and India, speculation naturally centered on them, and now it looks likely they will make a bid for it. This would also give SABMiller Australia’s best-selling beer, Victoria Bitter, and a stronger presence throughout southeast Asia.