AUS: Lion Nathan to Coopers – let’s talk
Lion Nathan has offered takeover target Coopers Brewery an olive branch in its ongoing A$420m (US$312m) bid.
The company said today (2 December) that it would be willing to hold talks with the brewer prior to Coopers' extraordinary general meeting scheduled for Wednesday.
"Given the fact that it looks like a decision may come down from the Australian Competition and Consumer Commission (ACCC) prior to any EGM, we'd be delighted to sit down with Coopers and discuss any remaining issues they may have around conditions with a view to facilitating a recommendation of our compelling offer," a Lion Nathan spokesman told Asia Pulse.
The ACCC is set to announce its decision on whether the bid addresses competition concerns next week. The commission said it would make the announcement on either Monday or Tuesday next week. "This is being done so that Coopers shareholders can know the ACCC's decision prior to the Coopers EGM that the ACCC understands is scheduled to be held on Wednesday," the commission said.
Coopers shareholders will vote on amendments to the Coopers constitution and on a proposed buyback of shares by Coopers at A$260 per share at two EGMs on Wednesday. If shareholders vote in favour of removing Lion's pre-emptive share purchase rights, then the bid would be effectively dead.
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 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 received further assurances that it is not about to be taken over....
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....
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