Forum Archive Index - August 2001

["Michael Phillips" <michael.p@paradise.net.nz>]

> Lion Nathan sells to Allied
>
> Brewer Lion Nathan has announced it will sell its 43% stake in
>Montana to rival bidder Allied Domecq

The bit about this scenario I just don't understand is why LNN (less
than a fortnight earlier) chose to sell-down its 19% stake for $4-65 to
institutional investors.  Had they sold their 19% holding at $4-80 to
Millstream they would have maximised the return to their shareholders
further.  Had I been a LNN shareholder, I would have been baffled why
they missed the opportunity to skim that little bit extra cream off the
top.  Or am I missing something profound here?

Regards
Michael
===

disc: have never held MON (was tempted once in '99) or LNN.


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