LION NATHAN FEELING UNLUCKY

Lion Nathan believes shareholders from Coopers Brewery will likely vote against the drink giant on Wednesday and agree to block their preemptive right to buy Coopers share. A vote of this nature would derail Lion Nathan’s A$420 million takeover bid for the brewery because they would no longer be entitled to share offerings that come up for sale in the unlisted brewer after they are first offered to existing shareholders. However, there may be a way around it. "If the resolution to remove our rights is passed on Wednesday, there remain processes in play which aim to protect our original position to purchase shares…regardless of the outcome of any vote, we know there is a significant minority of shareholders who wish to sell to Lion Nathan," a Lion Nathan spokesman said. It looks like Lion Nathan will continue to pursue the acquisition whether or not Coopers shareholders vote against them.