Lion Nathan Takeover Bid of Coopers

Discussion of Lion Nathan's failed takeover bid for the independent Cooper's Brewery and links to articles and other discussions.

Postby tommo » Friday Sep 23, 2005 6:30 pm

undercover1 wrote:

For me, the reason that Lion Nathan shouldn't get to own Coopers is simple- they will f--- up the beer.


Forget the rest of the bs, the above statement is what it really equates to.

We're all here for the beer. 8)
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Postby grabman » Friday Sep 23, 2005 8:58 pm

too bloody true!!!

It's the only decent "mass-produced" brew around!
Some people say I have a drinking Problem....
I drink, I get drunk, I fall over....
What's the problem?


http://www.brodiescastlebrewing.com/
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Postby NTRabbit » Saturday Sep 24, 2005 12:07 am

It should be pointed out that the family member mentioned in that article is a prominent socialite (read: middle aged paris hilton) who likely wants to sell out for more socialising money, rather than for any serious business reason. Keeping up apperances (ie moving somewhere higher in the social food chain, like Sydney Harbour) takes a fair whack of cash these days.
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Postby grabman » Saturday Sep 24, 2005 8:35 am

can't they just shoot her!!!
Some people say I have a drinking Problem....
I drink, I get drunk, I fall over....
What's the problem?


http://www.brodiescastlebrewing.com/
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Postby Dogger Dan » Saturday Sep 24, 2005 9:02 am

Grab,

Yes, however it is frowned upon

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Postby grabman » Saturday Sep 24, 2005 10:19 am

what's worse, losing beer making icon or shooting some money grabbing socialite?

and they can frown all they like :wink:
Some people say I have a drinking Problem....
I drink, I get drunk, I fall over....
What's the problem?


http://www.brodiescastlebrewing.com/
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Postby gregb » Saturday Sep 24, 2005 4:34 pm

OK what about "tragic drug overdose" or some sort of bizarre Hutchenceesque (sp?) death by misadventure?

Cant get to Adelaide though sorry fellas.

Cheers,

Greg
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Postby grabman » Saturday Sep 24, 2005 6:48 pm

how about you hit her on the head with AFL Cup!

Sydney have that as a weapon :wink:
Some people say I have a drinking Problem....
I drink, I get drunk, I fall over....
What's the problem?


http://www.brodiescastlebrewing.com/
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Postby Dogger Dan » Saturday Sep 24, 2005 8:51 pm

There we go, creativity, thats what you need.

I am a bit leary on blunt trauma myself unless its like a piano falling on the head.

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Postby Guest » Monday Sep 26, 2005 10:21 am

undercover1 wrote:Shane,
As someone who is opposed to the sale of Coopers on a very basic level, can I just note:
I feel the same for every 'niche' Australian company that manages to compete with big bussiness. As soon as they start to get a few sales away from the "Big Guys" they try to buy them out ....
- can you give us an example of an unwanted take over like this? Most of them seem to happen because local interest wanes, profits fall, & the Australian company becomes vulnerable. ANd I don't think you can say Coopers isn't a big business anyway.
The "Big Guys" of big bussiness are even pushing are farmers off the land
Why should farmers be immune to the demands of the marketplace? Yes I try to buy Australian, but if the import is of as good a quality but cheaper, why shouldn't the consumer have the choice? (Bear this last point in mind, because it's at the heart of my issues with this takeover.)
Lets keep this one in Aussie hands
To what end? For what reason? Because it's some sort of icon? So is VB. And still it's not as popular as cheap & nasty RTDs.
And let's not forget that foreign involvement hasn't stopped, say, Holden (part of General Motors) from being seen as a symbol of Australia.
For me, the reason that Lion Nathan shouldn't get to own Coopers is simple- they will f--- up the beer.


I'm not going to argue details... it really is simple, if we buy australian owned and made products it's jobs FOR US ... Literally... Instead of yet another company moving it's factories to china so the shareholders can make a few extra $$$$. This isn't beer, this is just about everything that was Australian made.

Personally I think it's great the court has upheld the Coopers bid to keep the company in Australian hands. Certainly if it keeps more jobs here and the factories here with the current exceptional product they sell.

Just about everytime I make a brew that isn't Coopers I'm dissapointed with the outcome (unless you want to talk expensive imports like Muntons).

seeya,
Shane L.
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Postby gregb » Wednesday Sep 28, 2005 5:46 am

http://www.smh.com.au/news/business/lion-in-court-bid-to-sink-coopers-vote/2005/09/27/1127804477774.html

From this mornings Sydney Morning Herald. More legal machinations.

Cheers,
Greg
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Postby Jay » Tuesday Oct 11, 2005 2:26 pm

The latest development

http://finance.news.com.au/story/0,1016 ... 62,00.html

Not sure what it means exactly but doesn't look for Cooper's.

Cheers,
Jay.
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Postby gregb » Thursday Oct 20, 2005 1:05 pm

From Sydney Morning Herald website.

Lion loses Coopers appeal
By Steve Larkin
October 20, 2005


Coopers Brewery said yesterday it expected to see off a $352 million hostile takeover bid by Lion Nathan following a crucial court victory.

But Lion Nathan said it remained "cautiously optimistic" that Coopers shareholders would accept its bid for the South Australian brewer.

Lion Nathan has made a $352 million takeover bid for Coopers, offering $260 a share, an offer Coopers has rejected.

Last month, the South Australian Supreme Court ruled in Coopers' favour in its attempt to remove Lion Nathan's pre-emptive rights to buy Coopers shares.

But Lion Nathan appealed that verdict to the Full Court of the SA Supreme Court, whose three members yesterday unanimously dismissed the appeal.

The two companies have been arguing over the pre-emptive rights regime that determines the process of how the shares are sold and in what order, and sets a "fair value" for shares if a seller and purchaser disagree on price.

Under the Coopers constitution, shares up for sale must first be offered to another Coopers shareholder, secondly to AMP or any other Coopers employee superannuation fund, and thirdly to Lion Nathan.

Yesterday's judgement means Coopers can change its constitution and press ahead with plans for an extraordinary general meeting of its shareholders to vote on whether to remove Lion Nathan's pre-emptive rights.

But Lion Nathan spokesman Paul Evans said that meeting was still uncertain given an individual shareholder had commenced court action that could put a permanent stay on the meeting.

"While Lion Nathan would have preferred a different result today, we are in for the long haul," Mr Evans said.

"We think that any Coopers shareholder who votes to have our purchasing rights removed ignores the serious and permanent impact on their share value and on their liquidity."

AAP
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Postby gregb » Monday Nov 21, 2005 12:30 pm

The sheep shaggers have upped thier bid to $310 per share. See SMH 21/11/2005

http://www.smh.com.au/news/business/lion-nathan-ups-bid-for-coopers/2005/11/21/1132421576560.html

Cheers,
Greg
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Postby NTRabbit » Monday Nov 21, 2005 2:18 pm

"This has enabled us to make a very attractive revised offer to all Coopers shareholders which we expect will be unanimously recommended by the Coopers board," he said.

Lion Nathan says it now expects the Coopers board to recommend shareholders vote against any proposal to remove Lion Nathan's rights from the Coopers' Articles and to withdraw the proposed share buyback at $260 per share.

"We consider that it is now very clear that both the proposed resolution to remove Lion Nathan's rights from Coopers' articles and the proposed share buyback are not in the best interests of Coopers shareholders," he said.


I love the sheer arrogance there. Pity the SMH seems to have no interest in a response from Coopers, and paints LN in a nice nd friendly way.
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Postby Oliver » Tuesday Nov 22, 2005 3:27 pm

Some think this will secure Cooper's for LN

Coopers board 'out of options'
22nov05
COMMENT
TERRY McCRANN

http://www.theadvertiser.news.com.au/co ... 13,00.html

LION Nathan has pinned the decidedly not-independent directors of Coopers Brewery to the wall between their proposed buyback and the independent valuation of their company.

Others think it still won't go ahead

Lion puts more money on table
By Leon Gettler
November 22, 2005

http://smh.com.au/news/business/lion-pu ... 02423.html

The market seems to have written off Lion Nathan's chances of acquiring 100 per cent of South Australia's Coopers Brewery, despite it increasing its takeover offer from $260 to $310 a share.

I guess only time will tell.

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Postby undercover1 » Tuesday Nov 22, 2005 3:49 pm

Terry McCrann is a complete stooge, something that you need to factor into his analysis. He is the only commentator I have seen still remotely supportive of LN, and anyway, as per the other article, the market appears to have decided.
Nice to see Dr Tim playing down his response, nice & polite, no more knee jerk reactions from him.
Salut!
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Postby Dogger Dan » Tuesday Nov 22, 2005 4:01 pm

I had the oppertunity to chat with him (Dr. Cooper) earlier this year, he is pretty easy natured. I would have been suprised if he lost it.

Now that opinion and $1.35 will get you a cup of coffee here in Canada

Dogger
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Postby undercover1 » Wednesday Nov 23, 2005 11:25 am

I'm sure he is DD.
My point was that in some of the earlier rounds of this battle, Coopers seemed to come out swinging wildly in response to everything LN did or said, and looked a bit rattled. Maybe over reaction rather than knee jerk reaction.
Salut!
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Postby undercover1 » Tuesday Nov 29, 2005 9:47 am

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
Salut!
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