AUSTRALIA: Hess launches bid for Peter Lehmann
The Australian company's independent directors are also supporting the bid but their support is contingent on a higher offer not emerging. The offer is also conditional on Hess gaining acceptances for 35% of the shares and receiving approval from Australia's Foreign Investment Review Board.
"We are pleased to have received an offer from the Hess Group which is capable of being put to all shareholders to give them an opportunity to sell, or to continue as investors in the company," said PLW's chairman, Richard England.
The offer values PLW at A$3.50 per share against the closing price on Friday of A$3.44.
The directors stated that PLW had been approached by other potential bidders in the past but none of these had resulted in an offer. Attention is now likely to be focused on Allied Domecq, the UK-based international wine and spirits group which controls 14.5% of PLW and which has been itself suggested as a possible bidder for the company.
As Pernod Ricard, Allied Domecq and Fortune Brands close in on the biggest drinks industry deal since the sale of Seagram, opinion about how the deal will be structured and who stands to win and lose ...
Cautious optimism is probably the best way to describe today's press reaction to Pernod's friendly bid for Allied Domecq....
Spirits firm Allied Domecq has agreed to a takeover bid from smaller rival Pernod Ricard, subject to agreement from Allied shareholders....
Allied Domecq last night accepted Pernod Ricard's offer to buy the UK-based drinks giant....
Allied Domecq today delivered a 7% increase in first half group profits before tax to £285m. Earnings per share were up 7% to 19.2p, turnover that was flat at £1,700m....
Drinks producer and distributor Todhunter International has said that its controlling shareholder, CL Financial, is interested in acquiring some of the brands of Allied Domecq that may become availabl...
Pernod Ricard has had its rating raised....
Allied Domecq has added a new flavour to its Malibu range. The company said yesterday that it would be launching Malibu Passion Fruit in the US from April 15....
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