26 August, 2005

Australia: Lion Nathan denies buy-out speculations

Lion Nathan denied on August 25 the speculation it would be ready for a takeover by San Miguel Brewery from Philipines. "The company is aware of media speculation that San Miguel Corp may be considering a takeover offer for the company," the brewer said.

"The company knows of no such offer, it has not been approached and it has not engaged in any discussions consistent with this speculation ." it added.

The managing director of Lion's local rival DB Breweries, Brian Blake said his firm normally knew of comments in the market regarding industry developments, but this one had taken him by surprise. Asked if a marriage of Lion Nathan, San Miguel, and Australian juice company Berri would work, Brian Blake said modern business was about looking for efficiencies and synergies.

Lion Nathan shares increased 10c at $NZ8.70 on the these rumours.

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