IT’S FINAL: COOPERS SHAREHOLDERS SAY NO

93% of Coopers Brewery shareholders voted in favor of removing Lion Nathan’s pre-emptive share purchase rights today, dealing a serious blow to the Australian company’s acquisition plans. Coopers managing director Tim Cooper said, “We would not have thought there is merit pursuing us in further litigation. The shareholders are very happy for us to be left alone to continue what we do best, which is run as an independent brewery in Australia.” However, Lion Nathan has chosen to keep the offer on the table and will continue to pursue all legal alternatives available. Coopers chairman Glenn Cooper says, “Our shareholders … have spoken convincingly and loudly." It appears as though Coopers will stand firm against Lion Nathan although the giant drinks company will go to great lengths to get what they want. Lion Nathan spokesman Paul Evans said, “We will continue to defend our rights, pre-emptive rights that were previously given to us by Coopers.”