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Article: Lion Nathan puts cork back in the Montana bubble.
- Article from:
- Australasian Business Intelligence
- Article date:
- August 13, 2001
CopyrightCOPYRIGHT 2001 News provided by Comtex. 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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Aug 14, 2001 (The Australian
ABIX via COMTEX) -- Lion Nathan has been ordered to sell 19 per cent of its stake in Montana by 17 August 2001. The Australian company unsuccessfully sought an extension of the sale order imposed by the New Zealand Stock Exchange Market Surveillance Panel. The sell-down will lower Lion Nathan's holding in the New Zealand wine company from 62.8 to 43.8 per cent. The High Court of New Zealand's Justice Anderson said that participants should not disrupt market activities through legal proceedings. Lion Nathan will have to offer a full bid in excess of Allied Domecq's $NZ4.80 per share to take over Montana.
LION NATHAN LIMITED - ASX LNN: ...