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Headlines > Market Trends

Lion Nathan wine deal on track

16-Nov-2001

Australasian brewer Lion Nathan Ltd said on Thursday it had received acceptances for 93.5 per cent of the shares in Australian winemaker Petaluma Ltd.



Lion launched a A$7.00(EUR 4.13) a share offer for Petaluma in early October, later upping it to A$7.27(EUR 4.3), a bid valuing Petaluma at A$229 million (EUR 135million).Lion said it intended to compulsorily acquire the remaining Petaluma shares, which last traded at A$7.20(EUR4.25) and would now be suspended from trading in accordance with ASX Listing Rules. The offer closes on Monday, November 19.

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