Golden Circle shareholders have revealed their overwhelming support for the takeover proposed by food manufacturer Heinz. The H.J. Heinz Company Australia Limited (Heinz) made a $288m bid for Golden Circle in October, which received unanimous support from the Golden Circle Board. Golden Circle, a 61 year-old Australian company renowned for their canned fruit and vegetables, fruit juice and jam, earlier this year listed on the National Stock Exchange after refusing a $1 a share bid from Coca-Cola... ...Read more »

The takeover of Dairy Farmers by Kirin subsidiary National Foods was officially completed on Tuesday, with the cheese joint venture between National Foods and Warrnambool Cheese and Butter (WCB) expected to begin operation early next year. Dairy Farmers Chairman Ian Langdon, who along with other directors will resign from the Dairy Farmers Board today, said the $910m acquisition of the business by National Foods stood to have a positive impact on Dairy Farmers’ shareholders as well as the... ...Read more »

Coca-Cola Amatil Chief Executive Terry Davis has told a business congress in Sydney this morning that he believes Lion Nathan will struggle to up the bid that CCA believes undervalues their worth. Last week CCA, Australia’s largest soft drink bottler, advised that they would fend off the $7.6b bid made by Lion Nathan - Australia’s second largest brewer. Mr Davis claimed the bid was flawed and “half-baked” and argued that the bid undervalues the company and could hurt CCA shareholders,... ...Read more »

Lion Nathan Chief Executive, Rob Murray, has advised that Australia’s second largest brewer is likely to drop their bid for Coca-Cola Amatil if it cannot be made on amiable terms. The offer, which was announced to shareholders by Coca-Cola Amatil (CCA) last Monday, values CCA at upwards of $7.6b. It has, however, been met with disapproval from their major shareholder (The Coca-Cola Company), the CCA Board and CCA CEO Terry Davis - who dismissed it as a “flawed” bid. “Let’s... ...Read more »

Coca-Cola Amatil (CCA) Chief Executive Terry Davis is not likely to change his mind about the current $7.6b takeover bid tabled by Lion Nathan, believing it to be “half-baked”. He has left the door open to a deal, however, with the right conditions. CCA told shareholders on Monday that Lion Nathan had launched an unsolicited takeover bid for Australia’s largest bottler of soft drinks, in an endeavour to create Australia’s largest beverage company. Coca-Cola Amatil informed... ...Read more »

InBev announced this morning (ADST) that it has finalised the US$52b purchase of Anheuser-Busch, following approval from shareholders of both companies. The combination creates the global leader in beer and one of the world’s top five consumer products companies. The name of InBev will change to Anheuser-Busch InBev, with Anheuser-Busch becoming a wholly owned subsidiary of Anheuser-Busch InBev and will retain its current headquarters in St. Louis. The belgian-based brewer will now manage... ...Read more »

The purchase of Dairy Farmers by National Foods will be implemented next week after receiving court approval today… Australian Co-operative Foods Limited (ACF), which trades as Dairy Farmers, today announced that the National Foods offer to acquire all of the shares in the Co-operative had been approved by the New South Wales Supreme Court. National Foods won shareholder approval last week for their $910 million proposal. ACF Chairman Ian Langdon said the court’s approval of the scheme... ...Read more »

The Board of Coca-Cola Amatil has decided to fend off the takeover offer made by Lion Nathan, believing it not to be in the best interests of their shareholders. Yesterday they noted “material deficiencies” in the offer made by Lion Nathan, which valued Australia’s largest soft drink bottler at around 10.8 x FY2008 earnings (or about $7.6b). The Board’s main concern is that the price to earnings multiple value of 10.8 is below the other major beverage deals made in Oceania... ...Read more »

Lion Nathan Limited has confirmed that it is in discussions with Coca-Cola Amatil Limited (CCA) regarding a potential combination of the two companies, which would result in Lion Nathan acquiring all of the issued shares in CCA. The announcement was made just before midday, after they had earlier asked for a trading halt to be placed on their shares until an announcement was made. The proposed combination would create the leading Australian and New Zealand beverage company, with a diversified portfolio... ...Read more »

Australia’s largest soft drink bottler, Coca-Cola Amatil, has today informed shareholders that brewer Lion Nathan has made a A$7.61b takeover offer for CCA. The news comes following rumours circulating of a pending merger between Lion Nathan and Coca-Cola Amatil (CCA). Lion Nathan, Australia’s second largest brewer, entered a trading halt this morning in the wake of fresh rumours in the Australian Financial Review that merger discussions with Australia’s biggest soft drink bottler... ...Read more »