E-Malt.com News article: Australia: Latest official bidder's statement from Lion Nathan
Australian brewer Lion Nathan made an official statement on November 2 about its bidder statement. In accordance with this, on 1 September 2005, Lion Nathan Limited (“Lion Nathan”) announced its intention to make an off-market takeover bid, through its wholly owned subsidiary Lion Nathan Australia Pty Limited, for Coopers Brewery Limited (“Coopers”).
Lion Nathan lodged a Bidder’s Statement with ASIC on 10 October 2005 and Supplementary Bidder’s Statements with ASIC on 12, 21 and 28 October 2005 and 1 November 2005 (“Supplementary Bidder’s Statements”). These Supplementary Bidder’s Statements set out supplementary disclosure to the Bidder’s Statement dated 10 October 2005 and should be read together with the Bidder’s Statement dated 10 October 2005.
Lion Nathan believes that it is desirable to despatch the Bidder’s Statement and Supplementary Bidder’s Statements to Coopers shareholders as a single consolidated booklet in the form of a replacement Bidder’s Statement. At the request of Lion Nathan, Coopers has agreed, for the purpose of ASIC Class Order 00/344, that a replacement Bidder’s Statement can be sent to Coopers shareholders less than 14 days after the replacement Bidder’s Statement is lodged with ASIC. The replacement Bidder’s Statement was lodged with ASIC on 1 November 2005.
To facilitate the despatch of the replacement Bidder’s Statement, Lion Nathan also sought, with the support of Coopers, a 3 day extension of the 2 month period available to send a bidder’s statement and offers to Coopers shareholders pursuant to section 631 of the Corporations Act. This extension was granted by ASIC on 1 November 2005. Consequently, Lion Nathan intends to despatch the replacement Bidder’s Statement to Coopers shareholders by Friday 4 November 2005.
Lion Nathan currently anticipates that the Offer will close at 7.00pm (Adelaide time) on 28 February 2006, unless extended in accordance with the Corporations Act. However, subject to the extension of the Offer Closing Date, Transfer Notices will need to be received by Lion Nathan no later than 7.00pm (Adelaide time) on 20 December 2005 to allow time for the operation of the Pre-emptive Rights Regime in Coopers’ Articles in respect of any Transfer Notice and the Coopers Shares which are the subject of any Transfer Notice, prior to the expiry of the Offer.
04 November, 2005