Shareholders of Robert Mondavi Corp will vote on the takeover offer from rival Constellation Brands on 22 December, the company has said.

Constellation's offer for the US wine company is for US$56.50 per share of Common A stock, and US$65.82 per share for the Common B stock owned by the Mondavi family, for a total consideration of around US$1.36 bln.

The vote will be held at Omni Hotel in San Francisco and is open only to shareholders, Martin said. The results will be known that day.

Earlier this week, Mondavi said that it had disposed of its 50% stake in the Chilean wine brands Vina Sena and Arboleda to Vina Errazuriz, its partner in the ventures.

Speaking to the Press Democrat yesterday (2 December), a Mondavi spokesperson said that the company is still moving forward on the planned sale of its Arrowood and Byron brands, but there is no date set for those sales.

The report also said that there was no indication whether French winemaker Domaines Barons De Rothschild will exercise its option to buy out Mondavi's half interest in Opus One.