US: Molson Coors merger at critical point - report
Merger talks between Molson Inc. and Adolph Coors Co. have reached a critical stage, according to press reports. The Wall Street Journal reported today that negotiations are at a sensitive stage and could fall apart, citing unspecified people familiar with the matter.
Several hurdles remain for any potential deal, most notably a feud among Molson family members who control the Montreal-based company's voting stock, the Journal said.
Although the terms of a possible deal are still being discussed, one scenario calls for Molson Chairman Eric Molson to be named chairman of the combined company, while Coors Chief Executive Leo Kiely could be CEO, the Journal said.
Last month, Molson's deputy chairman Ian Molson quit amid succession concerns at the 218-year-old company.
A merger with Coors, favoured by Eric Molson, could face strong opposition from his cousin Ian Molson, the Journal said, citing people familiar with the matter.
A shareholder agreement between Ian and Eric Molson forbids either from selling or transferring their voting shares without the consent of the other, according to the newspaper.
The Journal said a Molson spokeswoman declined to comment on any specific talks, but noted that the two brewers already work together on distribution agreements and that "we do have conversations and we do have discussions with them. We are always assessing our strategic alternatives in an industry that's faced with consolidation."
Molson Coors is more likely than not to keep hold of its Brazilian operations because of the huge potential of the market there, an analyst has said. This is despite a run of poor results from the com...
Molson is to start production of Coors' Blue Moon beer for the US market from its Montreal brewery....
First quarter losses announced last week by Molson Coors are wider than originally reported, according to a recent filing....
Molson Coors Brewing Company disappointed investors yesterday by reporting a net loss for the first quarter of 2005. The company said that it had achieved higher consolidated net sales and sales volum...
Molson Coors Brewing Company said yesterday that Daniel J. O'Neill, Vice-chairman, synergies and integration and formerly president and CEO of Molson Inc, has chosen to leave the company May 31 of thi...
Heineken has its eyes on possible acquisitions in Latin America, according to the company's CEO....
Molson Canada has announced it has acquired Ontario microbrewery Creemore Springs Brewery Ltd. Established in 1987, the brewery in Creemore, Ontario, 120 kilometres northwest of Toronto, employs 50 pe...
Peter M. R. Kendall, chief executive officer of Coors Brewers Limited, the European business unit of Molson Coors Brewing Company, will retire from his post on 1 May....
- Diageo's future brighter than present suggests
- Diageo's Q1 Results by Region
- Analysis - Remy's Cognac "dead-cat bounce"
- Focus - Remy Cointreau's H1 Performance by Brand
- Three Questions for the Drinks Industry
- Moët Hennessy unveils first Travel Retail outlet
- Diageo puts Beckham centre stage in Haig Club ad
- United Spirits sees Q1 net loss
- Diageo Q1 sales dip "in line with expectations"
- TWE unveils Penfolds range after CEO's "bold move"