E-Malt.com News article: 3923

Canada, Montreal: Molson Inc. confirmed on January 4 that Fairvest, Canada's leading independent proxy advisory firm has recommended that Molson shareholders vote in favor of the Company's proposed merger with the Adolph Coors Company.

In issuing its positive recommendation, Fairvest said that it had weighed the economic parameters and strategic rationale of the deal with corporate governance issues. Taking into account the likely range of values of a potential take-over price for the company and the industry conditions, it felt the strategic rationale was strong and the potential benefits significant and therefore supports the merger of Molson and Adolph Coors Company.

In light of this recommendation, Daniel J. O'Neill, President and CEO of Molson Inc. said: "We are very pleased that, after completing an independent and comprehensive review, Fairvest has confirmed the strategic and economic benefits that the combination with Coors creates for Molson shareholders and has recognized that the implied merger valuation is well above most comparable transactions."

Through the proposed merger, the Molson family will be diluting its voting interest from 51% to 33% and the Coors family will be reducing its voting interest from 100% to 33%. This reduction of voting interests is the first step toward achieving the families' shared vision of creating a leading global brewer. "The Molson family is prepared to further reduce its voting interest in order to continue to participate in the global brewing industry consolidation through additional acquisitions," added Eric H. Molson, Chairman of Molson Inc.

Molson encourages shareholders to vote FOR the Molson-Coors merger proposal. Shareholders can vote by phone, by Internet or by mail. Easy instructions are on the proxy form. Shareholders can call Innisfree at 1 877-825-8772 for information about the merger or about their voting materials. The special meeting of Molson shareholders to vote on the proposed merger will be held on January 19, 2005 at 9:00am (Montréal time) at the Fairmont The Queen Elizabeth hotel in Montréal, Québec.

Molson Inc. (TSX: MOL.A) is one of the world's largest brewers of quality beer with operations in Canada, Brazil and the United States. A global brewer with $3.5 billion in gross annual sales, Molson traces its roots back to 1786 making it North America's oldest beer brand. Committed to brewing excellence, Molson combines the finest natural ingredients with the highest standards of quality to produce an award-winning portfolio of beers including Molson Canadian, Molson Export, Molson Dry, Rickard's, Marca Bavaria, Kaiser and Bavaria.


05 January, 2005