Coopers Brewery has been cleared to hold an EGM on Lion Nathan's takeover bid.

A Melbourne court today (18 November) discharged a temporary injunction against the planned meeting, subject to agreed undertakings to the company's shareholder documents, to be held on 29 November.

The meeting will vote on changes to Coopers' constitution to remove Lion Nathan's existing pre-emptive rights to buy shares and effectively prevent Lion Nathan from owning Coopers shares.

Federal Court judge Alan Goldberg ordered Coopers to provide more information to its shareholders on a valuation from its auditor, KPMG.

"Shareholders should be able to consider our bid on its merits and we still continue to pursue all available avenues to ensure that they are able to do so," Lion Nathan chief executive Rob Murray said.

In a target statement issued to shareholders earlier this week, Coopers dismissed Lion Nathan's A$352m (US$257.5) bid as being "opportunistic, unclear and uncertain".