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Australia: Lion Nathan extends Banksia bid

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Lion Nathan has extended its takeover bid for Banksia Wines to December 31st according to a report by Dow Jones. Lion Nathan, which has 74.47% control of Banksia was due to close its A$1.12cash a share offer today. However, UK drinks giant Allied Domecq, which acquired a 14.9% share of Banksia will be the biggest hurdle to Lion acquiring 100% of the company.


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