What a surprise
After having made two (failed) attempts to buy big (see BWI 2/00), Tasmanian brewer J. Boag & Son itself became the target of a take-over bid. At the end of April, San Miguel Corp. (SMC) of the Philippines made an A$92 million offer (US$53,3 million) for Boag’s which was just too good to be refused.
After all, SMC already controlled 14.9% of Boag’s. At the beginning of the 1990s, SMC showed an interest in Tasmania. In those days, the Cascade Brewery was the object of desire. However, SMC’s bid was considered too low and thus CUB could mount a successful take-over in January 1993.
Boag’s and the pub real estate - the rest of the Cascade group - were bought by Philip Adkins’ company Cadenza. Through Cadenza he holds a significant slice (about 30%) of Boag’s..
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