News

US: Mondavi shareholder sues over takeover bid

Most popular

Hard coffee founder details Diageo lessons

How will Diageo change Cuban rum?

Interview - Treasury CEO Mike Clarke - Part I

Interview - Treasury CEO Mike Clarke - Part II

The just-drinks Analyst returns

MORE

A shareholder in the US winemaker Robert Mondavi has filed a lawsuit asking that the board pay due consideration to a takeover offer from Constellation Brands.

Bamboo Partners filed the suit in the Napa County Superior Court and is seeking class action status.

It alleges that Mondavi has failed company shareholders by deciding to proceed with its recapitalization plan, despite a request by Constellation Brands to the contrary.

The suit also alleges that Mondavi has not given the Constellation Brands' offer proper consideration.

Bamboo is seeking declaratory and injunctive relief, compensatory damages in an unspecified amount, attorneys' fees and costs of suit.

Robert Mondavi Corp said it will vigorously defend itself against the suit, which it believes has no merit.


Sectors: Wine

Companies: Constellation Brands

Related Content

Constellation Brands offloads lower-end wines to E&J Gallo in US$1.7bn deal

Constellation Brands offloads lower-end wines to E&J Gallo in US$1.7bn deal...

Anheuser-Busch InBev embroiled in Caribbean

Anheuser-Busch InBev embroiled in Caribbean "poison pill" takeover row...

Anheuser-Busch settles lawsuit over Kirin marketing

Anheuser-Busch settles lawsuit over Kirin marketing...

The just-drinks interview – Margrit Biever Mondavi

The just-drinks interview – Margrit Biever Mondavi...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?