undercover1 wrote:Hmmm...now Cooper's don't want to talk about it. From ABC online.Takeover bid off the agenda at Coopers' AGM
South Australia's Coopers Brewery will ask its shareholders not to discuss Lion Nathan's hostile takeover bid at today's annual general meeting in Adelaide.
The company's annual report will be the only item on the agenda. Last financial year Coopers doubled its annual net profit to $14.3 million, which translated to a fully franked dividend of $3 per share. The company's directors say the result reflects the brand's strong position in Australia's premium beer market.
But a number of powerful shareholders are considering whether to sell millions of dollars worth of shares to Lion Nathan. Coopers had sought to scuttle the takeover bid by holding a vote on removing Lion Nathan from its constitution, but that was prevented by the Australian Takeovers Panel.
At today's meeting the board will refuse to answer questions on the issue in light of the panel's ruling. It says shareholders should wait until an extraordinary general meeting scheduled for December 7
Ordered not to talk about it by the Takeovers Panel. All the takeover talk is to be saved for the Extraordinary shareholders meeting being held in a week or so.