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.