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.
undercover1 wrote:
For me, the reason that Lion Nathan shouldn't get to own Coopers is simple- they will f--- up the beer.
undercover1 wrote:Shane,
As someone who is opposed to the sale of Coopers on a very basic level, can I just note:- 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.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 ....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.)The "Big Guys" of big bussiness are even pushing are farmers off the landTo 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.Lets keep this one in Aussie hands
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.
"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.
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
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