COOPERS DECIDES TO BUYBACK

Not surprisingly, Coopers shareholders agreed yesterday to buyback shares for $A260 as a way to resist brewer Lion Nathan’s bid of $A310 a share. They also agreed to buyback up to 15% of the company which will cost around $A50 million. Next Wednesday, December 14 Coopers shareholders will meet again to determine Lion Nathan’s pre-emptive rights over the South Australian brewery.