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Article: LION NATHAN WAIVES CONDITIONS OF TAKEOVER BID FOR COOPERS.
- Article from:
- AsiaPulse News
- Article date:
- December 1, 2005
CopyrightCOPYRIGHT 2005 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MELBOURNE, Dec 1 Asia Pulse - Brewer and winemaker Lion Nathan Ltd (ASX:LNN) has waived two conditions of its $A420 million ($US309.46 million) takeover bid for Coopers Brewery Ltd to try to win over Coopers shareholders.
But Coopers said the waiver of the two conditions did not constitute a material change to the Lion Nathan offer and would not change the board's recommendation to shareholders that they reject the takeover bid.
Lion Nathan chief executive Rob Murray said today that his company had withdrawn a condition that it be allowed to appoint a representative to the Coopers board for every 15 per cent of Coopers' total shares it acquires.