Lion Nathan to purchase more of Montana

Related tags Lion nathan Stock market United kingdom New zealand

Lion Nathan, the Australasian brewer faced little opposition from
the UK's Allied Domecq on May 17th, when it purchased a further 9.5
per cent in...

Lion Nathan, the Australasian brewer faced little opposition from the UK's Allied Domecq on May 17th, when it purchased a further 9.5 per cent in the New Zealander winemaker Montana, boosting its stake to 61.99 per cent, reports the Financial Times Allied Domecq had said it was prepared to match Lion Nathan in paying up to NZ$5.05 a share. Lion Nathan had been restricted from buying shares until Thursday under Stock Exchange regulations. Credit Suisse First Boston, Lion Nathan' brokers, bought the stake at NZ$5.05, some 30 cents above the latest independent valuation. The New Zealand Stock Exchange's surveillance panel is investigating the way Lion Nathan acquired much of its holding in February soon after Allied Domecq announced its bid. The panel is due to announce its decision in mid June. Source: Financial Times

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