M&a - Lion Nathan Case Study

2515 Words Feb 5th, 2010 11 Pages
Prepare a brief chronology of the key events that occurred during this takeover offer. Sep 1, 2005 Lion Made offical offer to take offer cooper offering $260/share for cooper shares Sept 1, 2005 Cooper board of director going to meet and discuss this offer, no action should be taken at this time. Sept 06, 2005 Board of Director of Cooper recommend shareholder should reject the offer Takeover panel review Sept 1, 2005 appeal by Cooper about Lion offer that does not explain the preemptive right. Panel ask Lion to make a join letter to explain the preemptive right Sept 09, 2005 appeal by Lion appealing that Cooper explanation of fair value in the statement of Cooper articles is misleading Sept 21, 2005 …show more content…
12 million vote for share buyback and 0 against the buyback. Outline the key requirements of the Foreign Investment Guidelines in relation to takeover offers generally, explain the relevance (if any) of foreign investment approval to the takeover offer for Coopers Brewery and, if applicable, provide your opinion as to whether foreign investment approval should have been given in this instance. Foreign investment for acquisition of more than 15% with proposal value over $100 million might be subject to FATA (Foreign Acquisition and Takeovers Act 1975) therefore it need to notify Foreign Investment Review board and get approval from it. Here are Steps that should be taken to get approval: Notify FIRB Submission of documents FIRB review FIRB recommendation Treasury decides based on the recommendation within 90 days time period. For Cooper acquisition by Lion Nathan, since Lion Nathan is 46% owned by Kirin corp that is a Japanese brewery company, Lion Nathan is considered a foreign owned company. Therefore, proposal it is advisable to notify FIRB before the acquisition takes place. In the case Lion Nathan do the bid offer to Cooper before FIRB give any recommendation. In my opinion it is acceptable for Lion Nathan to proceed with the acquisition process since Australia support foreign investment and it will

More about M&a - Lion Nathan Case Study

Open Document