Coopers
This morning I walked into Hudsons to get my daily coffee while in a sleepy haze. While waiting, I was flicking through The Advertiser and saw the words "Coopers" and "Hostile takeover" splashed across a page.
Coopers is currently trying to fend off a hostile takeover by Lion Nathan Ltd (the second largest brewer in Australia). But with Lion Nathan offering $260 per share Coopers might be hard pushed to defend its family owned brewery (the last in Australia). Unfortunately, in most cases money wins hands down and with reports stating some of Coopers 117 shareholders approached Nathan Lion I see little hope for our local beer of choice.
"Analysts welcomed Lion Nathan's move to expand further into the premium beer segment, noting Coopers is a quality brand name and would fit well with Lion Nathan's existing range of brands including Tooheys, XXXX, Hahn, Becks and James Squire. (quoted from http://sg.biz.yahoo.com/050901/15/3unpq.html)”
Nathan Lion's bid is said to be worth $352m and if successful will see the end of the family owned brewery and Coopers will be South Australian no more as 46% of Nathan Lion is owned by Japan's Kirin Brewery Co.
There is still hope however, as the takeover is still to be approved under the Foreign Acquisition and Takeovers Act.
posted by Charlii Fandango @ 10:03 am
6 Comments:
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Removed comments? Awesome!
And I swore off beer last month, so as long as they keep bringin' me the ol' JD, I'm happy. :D
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I believe you'll find that the issue is still in the courts. But perhaps the decision has been handed down. When LN took over SA Breweries, which had shares in Coopers, LN relenquished their shares in Coopers for a three-tiered share agreement. Any shares for sale not bought by private shareholders or Coopers super provider AMP, went to LN prior to being openly available for other companies.
Once the Japanese company bought shares in LN however, Coopers got pissed off maintaing that LN was no longer a family brewery and therefore no longer had a right to buy anymore shares under the 3-tiered system.
LN maintains that their fundamental infrastructure has not changed despite being part foreign owned and that they are attempting to prevent any shares being bought by souless non-family owned corporations.
I maintain its all fuckin semantics. If LN are in charge of the James Squire label I give the thumbs up. Besides which the Japs love their beer and are probably just trying to get their fingers in the Aussie market so they can finally import some decent booze.
However according to last nights finance report LN failed in their takeover bid so tis all a moot point. Perhaps I shall start my own brewery and maybe LN will buy it out :D
Hey are u guys coming to the Triboozard Tournament next weekend? I can only hazily remember Chuckles asking about it. Perhaps it wasnt a good idea after all to make the RSVP date Aug 27th.
I know el Pablo shall be showing up for a few drinks (bringing more scotch I wonder??? HE HE HE)
But what about Chuckles and Manman?
And Kimb?
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