AUS: Lion urges watchdog to block Coopers EGM
Lion Nathan has asked Australia's takeovers watchdog to postpone next week's crucial meeting of shareholders of Coopers Brewery.
Lion yesterday (21 November) tabled an increased offer worth A$420m (US$307.5m) for Coopers but is concerned an EGM for shareholders on 29 November could effectively end its bid.
At the meeting, Coopers shareholders will be asked to vote on a resolution removing Lion's pre-emptive rights to buy Coopers shares under its constitution.
The Takeovers Panel said it had received an application from Lion seeking an order from the panel to postpone or adjourn the EGM.
Lion argued that Coopers' target statement contained misleading information and that changing the Coopers constitution constituted an action frustrating its bid.
The Australian beer and wine giant wants the EGM to be postponed or adjourned until "corrective" information is put to Coopers shareholders.
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....
- Will Tequila Learn from Scotch Whisky's Mistakes?
- Comment - Beer - Does 'Craft' Work?
- Solving the diet drinks dilemma in the US
- SABMiller, Meantime Brewing say goodbye to 'craft'
- Comment - How to Target Cognac's Mok Generation?
- Whyte & Mackay takes on Flor de Caña in UK
- Diageo opens Johnnie Walker House in Singapore
- Emperador overhauls Whyte & Mackay labels
- SPI Group US, Canada sales chief departs
- Soaring Prosecco sales good for Champagne
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- Beam Suntory Inc. - Strategy and SWOT Report