US: Mondavi shareholder sues over takeover bid

By | 22 October 2004

A shareholder in the US winemaker Robert Mondavi has filed a lawsuit asking that the board pay due consideration to a takeover offer from Constellation Brands.

Bamboo Partners filed the suit in the Napa County Superior Court and is seeking class action status.

It alleges that Mondavi has failed company shareholders by deciding to proceed with its recapitalization plan, despite a request by Constellation Brands to the contrary.

The suit also alleges that Mondavi has not given the Constellation Brands' offer proper consideration.

Bamboo is seeking declaratory and injunctive relief, compensatory damages in an unspecified amount, attorneys' fees and costs of suit.

Robert Mondavi Corp said it will vigorously defend itself against the suit, which it believes has no merit.

Sectors: Wine

Companies: Constellation

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