The Montana saga continues
For more than a year the Montana saga has had the world shake its head in wonder. Down under, Australasian brewer Lion Nathan and the world’s number two drinks group Allied Domecq have been engaged in
a take-over battle of New
Zealand’s largest wine producer, Montana group, valued at NZ$800m (US$348m). The battle so far has all the ingredients of a script Hollywood producers could be scrambling for.
Recent events have provided new twists to the tale however. After a complaint filed with the NZ Stock Exchange by Allied Domecq which alleged that Lion breached listing rules by securing binding agreements with institutions to buy shares before restrictions on its trading expired, the NZSE committee ruled that Lion must divest a 19% stake in Montana before making a new bid..
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