Allied chases 10% of Montana

By Phil Boeyen, ShareChat Business News Editor

Friday 11th May 2001

The ongoing battle for winemaker Montana (NZSE: MON) is continuing today with liquor giant Allied Global in the market today for 10% of the company.

Allied's broker, UBS Warburg, announced this morning that it has already acquired 11.9 million Montana shares on behalf of its client and is standing in the market for a further 9.5 million at $4.55.

Lion Nathan, which is able to acquire further Montana shares from May 16, says it is currently reviewing its options, including buying more shares in Montana at $4.65.

That's the same price it offered Montana shareholders earlier in the year when it built a majority stake in the company.

Both companies are currently awaiting the outcome of the hearing into Lion's purchase of Montana shares in February, which could see the brewer forced to divest part of its holding.

A new appraisal report on Montana has valued its shares at between $4.24 and $4.72.

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