E-Malt.com News article: Australia: Lion Nathan waives key conditions to its hostile bid for Coopers

Lion Nathan Ltd ,46 % owned by Japan's Kirin Brewery ,stated it has waived key conditions attached to its 420 mln A$ bid Coopers Brewery, AFX announced on November 30. Lion Nathan chief executive Rob Murray said the offer is now only subject to conditions which are regulatory.

The CEO said the offer of 310 A$ per share is substantially above all past pricing benchmarks for Coopers shares and is at the midpoint of an independent expert's valuation range.Murray stated it is now in the best interest of Coopers' 117 shareholders that their board recommend acceptance of the offer.

1 US$ = 1.36 A$


02 December, 2005