Kirin Holdings has announced that it is discussing the prospect of a $51 billion merger with Suntory that would create the world’s fifth largest food and beverage firm and potentially shake-up the beverage sector in Australia. In their statement to the market yesterday Kirin stressed the Suntory discussions were at an “initial stage”. “Nothing has been resolved or reached an agreement at this stage,” they advised. “Kirin will make immediate announcement once anything... ...Read more »

Food and beverage firms Kirin Holdings and Suntory are reportedly in talks regarding a potential multi-billion dollar merger, which could have ramifications on the beverage landscape in Australia. Nikkei English News, citing unidentified people, said the Japanese companies were hoping to reach an agreement by year’s end, with talks between the leaders of the two companies progressing since the end of 2008. Both companies have recently been looking overseas to diversify their portfolios and... ...Read more »

The Australian Competition and Consumer Commission has given the green light to Kirin’s purchase of brewer Lion Nathan. The Australian competition watchdog was the final regulatory hurdle that needed to be cleared by the Japanese firm after receiving approval from the Foreign Investment Review Board (FIRB) on June 19. The decision by the ACCC – announced Friday afternoon – came five days earlier than expected. The $3.5 billion takeover still requires the approval of Lion shareholders,... ...Read more »

Japanese brewer Kirin Holdings has received the all clear from the Foreign Investment Review Board for their takeover of Australia’s second largest brewer – Lion Nathan. The $3.5 billion takeover offer was accepted by the Lion Board last month but still requires approval from shareholders and the Australian Consumer and Competition Commission. The ACCC is due to decide on July 1 whether or not Kirin’s expansion in Australia – they have purchased National Foods and Dairy Farmers... ...Read more »

Lion Nathan, the subject of a takeover offer by major shareholder Kirin, has indicated they may sell their wine assets as soon as economic conditions improve. Lion Chief Executive Rob Murray told analysts yesterday that the wine industry was still facing difficulties with a glut, with the economic climate exacerbating the problem. With this in mind the company was not currently considering a sale of the division, which accounts for about 7 per cent of sales. “My view is there is still an opportunity... ...Read more »

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... ...Read more »

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.... ...Read more »

Coca-Cola Amatil (CCA) Chief Executive Terry Davis has said the price offered to Lion Nathan shareholders solidifies their view that last year’s offer by Lion undervalued their worth.The offer for the remaining Lion Nathan shares made by Kirin at the start of the week represented a price to earnings ratio of around 13.8, comfortably above the 10.5 offered for CCA by Lion in a bid backed by Kirin last November. “What has happened is that the very high multiples paid for Lion Nathan validates... ...Read more »

Lion Nathan has agreed terms on a takeover by Japanese giant Kirin Holdings. The 54 per cent of the Australian brewer not currently owned by Kirin will be purchased for $12.22 a share, markedly above the $8.31 Lion was trading at when they went into a trading halt on Thursday morning. The offer values Australia’s second largest brewer at about $6.5 billion, higher than the $6 billion estimated by many analysts. Both companies have signed a scheme process agreement, with an acceptable Scheme... ...Read more »

As discussions with major shareholder Kirin regarding their takeover proposal continue, Lion Nathan has announced a 6.9% rise in net profit after tax for the first half – an announcement that was brought forward from May 20. Lion Nathan CEO Rob Murray, who is widely tipped to stay on as boss of Kirin’s Australian operations if the deal proceeds, tipped further progress in the second half due to innovations, the growth of Boag’s and the later Easter. “These first-half results... ...Read more »