Well, darn it, they kissed and made up. After over six months of negotiations, Allied Domecq has actually accepted Lion Nathan’s offer of A$1.27 a share for its 15% stake in Banksia. I really didn’t think they would, so there has to be a bigger picture somewhere just under the horizon. Lion Nathan’s stake in Banksia will now rise to 99.1%, enabling it to acquire the remaining shares. It’s a huge bonus for Lion Nathan at the start of the year, since it can now fully incorporate its wine activities into its beer business.
