Lion Nathan Limited

By Intelligent Investor · 13 Jul 2001

By Intelligent Investor ·
13 Jul 2001

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Lion Nathan Limited - LNN

Current price

$11.46 at 16:10 (07 October 2009)

Price at review

$4.32 at (13 July 2001)

All Prices are in AUD ($)

The battle continues for Lion Nathan over ownership of NZ's largest wine maker, Montana. After receiving a heavy penalty from what was really only a technical breach of NZ stock exchange rules earlier this year, Lion Nathan is determined to push ahead with the full takeover. The company has been ordered to sell back 19% of its shares already acquired, worth about $200m. Lion boss, Gordon Cairns, was not a happy man over the setback. But the bankers have been working overtime and believe Lion will be successful on the back of a $5.50, 11% partial offer and the balance to be acquired for NZ$3.70. The share price has risen 7.5% since we last mentioned the company in issue 81 (Hold - $4.02). If Allied Domecq comes back with a higher bid, Lion may be forced to up the ante. Continue to HOLD.

IMPORTANT: Intelligent Investor is published by InvestSMART Financial Services Pty Limited AFSL 226435 (Licensee). Information is general financial product advice. You should consider your own personal objectives, financial situation and needs before making any investment decision and review the Product Disclosure Statement. InvestSMART Funds Management Limited (RE) is the responsible entity of various managed investment schemes and is a related party of the Licensee. The RE may own, buy or sell the shares suggested in this article simultaneous with, or following the release of this article. Any such transaction could affect the price of the share. All indications of performance returns are historical and cannot be relied upon as an indicator for future performance.

Lion Nathan Limited

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Lion Nathan Limited

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