AUSTRALIA: IWIF accepts Constellation's bid
Shareholders in the listed International Wine Investment Fund approved the cash or scrip offer for the Fund's 10.3% stake in BRL Hardy making approval of the Constellation bid a virtual formality.
Chris Day, chief executive of IWIF's managers, said the Constellation offer of A$10.50 (US$6.40) was a knockout price.
"While I would like to think that a great Australian company would remain Australian owned, in this market it is a knockout price and we wouldn't get a better price for a number of years."
IWIF will pay a special dividend after the take-over is ratified and then decide its own direction in wine investments.
A consortium led by Constellation Brands has made a tentative approach for Allied Domecq....
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....
The Hardy Wine Company has posted a record grape harvest....
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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