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Article: Red Bell Brewing And Pittsburgh Brewing Company Proposed Merger To Acquire The Lion Brewery.
- Article from:
- Business Wire
- Article date:
- November 5, 1998
CopyrightCOPYRIGHT 1998 Business Wire. 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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PHILADELPHIA--(BUSINESS WIRE)--Nov. 5, 1998--Red Bell Brewing Company, of Philadelphia, and Pittsburgh Brewing company, of Pittsburgh, have entered into a formal letter of intent to effect a merger in an effort to successfully complete Red Bell's previously announced proposal to acquire The Lion Brewery Inc., of Wilkes Barre, Pa.
The agreement would involve the merger of Pittsburgh Brewing Company with a subsidiary, such that upon the closing, Pittsburgh Brewing Company would become a wholly-owned subsidiary of the Red Bell Brewing Company. The merged company would simultaneously complete Red Bell's cash offer of $5.02 a share to acquire Lion.
Red Bell ...