(Reuters) - Australian brewer and takeover target Foster's (FGL.AX) on Friday did not rule out takeover talks with suitor world No.2 SABMiller (SAB.L), but said the spurned $10.4 billion offer was so low it was not worth discussing. Foster's new Chief Executive John Pollaers, facing a barrage of questions from analysts and shareholders at a business lunch, defended the board's decision to reject the deal and focus on restoring Foster's share in a declining Australian beer market.