Molson, Coors Sweeten Offer to Shareholders
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Molson Inc., whose proposed $3.4-billion merger with Adolph Coors Co. would create the world’s fifth-largest brewer, increased a special shareholder dividend by 67% to counter investor opposition to the combination and a possible rival bid.
Molson Class A nonvoting and Class B common shareholders, excluding Chairman Eric Molson, will receive C$5.44 ($4.53) a share, up from the previously announced dividend of C$3.26, said Sylvia Morin, a spokeswoman for the Montreal-based beer maker.
From Bloomberg News
* Foster’s Group Ltd. bought an 18.8% stake in Southcorp Ltd., an Australian wine company, betting on sustained recovery in the key U.S. wine market. Foster’s, Australia’s leading brewer and winemaker, also signaled a likely merger of the two companies. Foster’s paid nearly 584 million Australian dollars ($445 million) to the Oatley family of Sydney for the stake.
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