Coopers Brewery, the last big family-owned brewery with about 5% of the Australia market, has put up a sign saying it’s not for sale.
The South Australian family controlling Australia’s biggest locally owned brewer has changed the company’s articles of association to make it harder for a hostile takeover.
The Australian reports the changes will dampen any appetite by any of the big public breweries such as Lion, which in 2005 failed in a $420 million bid for the brewery.
An amendment to the constitution means a premium bid by someone not currently a shareholder must be ignored when determining the value to all existing shareholders.
There’s more here.
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