LION NATHAN CLEARED BY THE ACCC.

The ACCC will not stand in the way of Lion Nathan’s bid to acquire Southern Australia’s Coopers Brewery Ltd. Graeme Samuel, chairman of the ACCC, reportedly stated that “while the ACCC recognized that Cooper’s market share is growing…its market share remains small, and substantially smaller than the two major beer producers in Australia, CUB and Lion Nathan.” Coopers shareholders will now determine the fate of their company at two extraordinary general meetings on Wednesday, December 7 where they will vote on amendments to the Coopers constitution and on a proposed buyback of shares by Coopers at $260 per share. Lion Nathan is offering Coopers shareholders $310 per share. Lion Nathan CEO Rob Murray says, “The Coopers board is on record stating that its key concerns were ACCC approval and the condition relating to the Coopers buy-back. Now these concerns no longer apply, we can see no reasonable basis for rejecting the offer.”