US: Constellation up against Wine Group for GSV
The battle for Golden State Vintners has seen yet another bid entered. Following The Wine Group upping its offer earlier this week to US$7.75 a share, the group led by GSV's chief executive Jeffrey O'Neill yesterday raised its bid with the help of the world's largest wine company, Constellation Brands.
The new bid from the group now stands at $7.80 a share, or $77m, plus the assumption of $29m of debt.
According to a filing to the Securities and Exchange Commission released yesterday, the board at GSV has accepted the new offer. In a statement, however, the GSV board said that it was obligated to consider other bids until 22 April.
The Los Angeles Times reported today that Constellation has helped O'Neill to finance the new bid, although no specific details of Constellation's contribution were available.
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The Board of Directors of Constellation Brands, Inc. has declared a quarterly dividend on the company's 5.75% Series A Mandatory Convertible Preferred Stock, payable on 1 June, to shareholders of reco...
Constellation is expected to launch a counter-bid for Allied Domecq by the end of this month, according to press reports....
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Constellation Brands is to launch a new Australian wine brand onto the US market through its North Lake Wines. The wine will be called Kelly's Revenge....
A host of drinks companies spent the weekend mulling over whether to launch counter-bids for Allied Domecq, according to press reports over the last few days....
This weekend's press reports have thrown up two other interested parties in the potential Allied Domecq carve-up....
Constellation Brands is interested in some of Allied Domecq's spirits brands, according to reports today (15 April)....
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