Chairman of Australia’s embattled Peter Lehmann Wines Richard England has pledged “proper consideration” by the company’s independent directors to any proposal or request for a take-over bid from Allied Domeq.
The South Australian based Peter Lehmann Wines is now in play with a possible counter bid to the recent takeover offer from the Swiss based Hess Group.
Allied is the largest PLW shareholder with a 14.5% stake while Hess has 5.4% after founder Peter Lehmann sold down his personal holding telling the 8000 shareholders “this is the only way I can see to save the identity and integrity of the company I founded”.
Allied has initiated discussions with PLW’s legal advisers and England said shareholders should take no action pending any counter offer to the Hess bid.
