Japan's Kirin Holdings is set to add 9 top new world wineries to its portfolio if an AUS$6.5bn bid for Lion Nathan succeeds. Lion Nathan's independent directors recently recommended that shareholders accept Kirin's Aus$12.22/share offer. The price is nearly 50% higher than Lion Nathan's closing price, Aus$8.31 (23rd April), when a halt was placed on trading on the Australian Stock Exchange. 'It is a compelling offer at a significant premium to Lion Nathan's share price,' said Lion Nathan chairman, Geoff Ricketts. The bid is for the 54% of the company that Kirin does not already own. Lion Nathan is Australia's second-largest alcoholic beverages company behind rival Foster's. It owns 7 wineries in Australia: Petaluma, St Hallett, Knappstein, Mitchelton, Stonier, Tatachilla & Smithbrook. It also owns Wither Hills in Marlborough, NZ & Argyle in Oregon, USA.
