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Lion Nathan wine deal on track


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.