AUS: Kirin assures Lion Nathan on bid talk
Lion Nathan has received further assurances that it is not about to be taken over. The Australian wine maker and brewer has been given word by Kirin Corp., which owns a 46% stake in the firm, that it is not in secret talks with San Miguel Corp. to exit the group.
Lion Nathan issued a statement to the Australian Stock Exchange (ASX) yesterday (25 August), saying that it knew nothing about rumours that San Miguel was to launch a bid.
Speaking to the ASX, Lion Nathan's company secretary, Duncan Makeig, said: "The recent trading activity in the company's shares is a result of market speculation that San Miguel Corp. is intending to make a takeover offer for the company."
Makeig added, however, that Lion "knows of no such offer, it has not been approached and it has not engaged in any discussions consistent with this speculation, therefore the company can make no further comment on it."
As well as owning a large stake in Lion Nathan since 1998, Kirin also controls 20% of Philippine-based San Miguel.
After some less than successful diversification in recent years, Lion Nathan is focusing its attentions back on beer and winning the approval of analysts in the process. The company looks set to gain ...
Integrating spirits, wine and beer has proved problematic for major drinks groups over the years but expansionary moves by the two major Australian brewers, Foster's Group and Lion Nathan, suggest tha...
Lion Nathan has returned to court in its long-running battle with takeover target Coopers Brewery....
Lion Nathan has appointed a new non-executive director....
Coopers Brewery is fighting the takeover attempt from fellow Australian brewer Lion Nathan....
Lion Nathan today announced that it intends to make an off-market offer for Coopers Brewery Ltd (Coopers). The offer of A$260 per share in cash values Coopers at A$352m....
Lion Nathan has played down speculation that it may be the subject of a takeover....
Lion Nathan has said it is on target to reach its full-year net profit after tax forecast for 2005 of between A$230m and A$235m before one-off charges....
- Why Didn't Diageo Act Sooner on Mallya?
- just The Facts - The Global Wine Industry
- CCE head shines light on price talks
- Interview: Head brewer at Hall & Woodhouse
- Comment - A New Age of VR Marketing?
- A-B InBev "regrets" Bud Light bottle message
- Diageo teams Johnnie Walker up with Entourage
- MEPs call for calorie, ingredient facts on alcohol
- Bacardi opens Dewar’s Travel Retail whisky store
- Pernod readies Avion Tequila US sweepstake
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- ALDI 2015: Radically transforming Anglo Saxon grocery markets
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research