Lion roars over confidentiality concerns
Lion Nathan shares have entered a trading halt this afternoon after the company raised concerns over a possible breach in the confidentiality of talks with major shareholder Kirin Holdings.
Australia’s second largest brewer, which last month agreed to Kirin’s $3.5b takeover offer, asked for a trading halt to be placed on their shares “in order to permit confidential discussions to continue between LNN and Kirin Holdings” as they near finalisation of their implementation agreement. The company advised that they now had “concerns that the confidentiality of aspects of those discussions may have been lost”.
Lion Nathan did not elaborate on their fears, with the trading halt to be enforced until Monday – unless the company announces a final agreement beforehand.