Lion Nathan agrees terms with Kirin
Lion Nathan today announced that it had signed an Implementation Agreement with Kirin Holdings for Kirin’s $3.5b takeover.
Late last month the Lion Board accepted a $12.22 per share offer by Kirin for the remaining 54 per cent of the company they did not own, with a shareholder vote now required to approve the proposal.
The transaction will be implemented via a scheme of arrangement and is subject to a number of conditions, including obtaining all necessary regulatory approvals, no material adverse effect, and an independent expert appointed by Lion Nathan concluding that the Scheme is in the best interests of Lion Nathan’s non-Kirin shareholders.
Lion Nathan, Australia’s second largest brewer, will come out of a trading halt this morning after requesting the halt last week amid concerns the confidentiality of talks with Kirin had been compromised.