Lion Nathan reveals initial Montana price
By Phil Boeyen, ShareChat Business News Editor
Lion Nathan (NZSE: LNN) is planning to start buying Montana (NZSE: MON) shares from the middle of next month and will pay between $3.20 and $3.80 a share.
Montana says it has received a restricted transfer notice from Lion seeking to buy shares in the wine maker up to a maximum of 51% with purchases starting on December 15th and expiring on July 1st next year.
Lion Nathan is currently awaiting a decision from the Commerce Commission on whether it would be allowed to buy all the shares in Montana. That decision is due at the end of next week.
Montana has set up a sub-committee of independent directors to respond to the restricted transfer notice, including commissioning an appraisal report which it plans to distribute to shareholders before Lion begins purchasing the shares.
Lion currently holds 28.2% of ordinary Montana shares.
Comments from our readers
No comments yet
Add your comment:
Lion Nathan shareholders overwhelmingly approve A$3.4b Kirin takeover
Daily ShareChat: Lion Nathan
Lion Nathan on track to meet profit forecast; NZ clears way for Kirin takeover
Daily ShareChat: Lion Nathan | Kirin
NZSE strikes out Lion complaint
Allied mops up Montana
Allied gets Montana green light
Lion Nathan sells to Allied
New Allied bid recommended
Lion Nathan seeks High Court review