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Article: LION NATHAN SAYS COOPERS MISLEAD SHAREHOLDERS ABOUT SHARE VALUE.
- Article from:
- AsiaPulse News
- Article date:
- September 13, 2005
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MELBOURNE, Sept 13 Asia Pulse - Brewer Lion Nathan (ASX:LNN) has claimed that its takeover target, Coopers Brewery, made misleading statements in relation to the value of Coopers shares.
Lion Nathan launched a A$352 million (US$270.5 million) takeover bid for Coopers earlier this month, offering $260 per Coopers share.
The Takeovers Panel said Monday that it had received an application from Lion Nathan seeking a declaration of unacceptable circumstances in relation to disclosure to Coopers shareholders over the Lion Nathan bid period, and the operation of the "fair value" provisions in the Coopers constitution.
The panel said Lion Nathan alleged ...