Despite the fact that on February 7 he said he intended to accept the $4.40 per share offer he apparently helped to arrange from Allied Domecq plc, which valued Montana at $770 million, Peter Mafsen, executive chairman of New Zealand’s largest winemaker, now says he wants to work for Lion Nathan, a company he would appear to hold in less than high regard. Mafsen, who owns 19.9% of the Montana and has previously attempted his own takeover bid for the company, has also done everything in his power to prevent Lion Nathan from gaining control of the company. Thanks however to a loophole opened up by the New Zealand Stock Exchange’s (allegedly) independent Market Surveillance Panel, Lion was able to gazump Allied with an offer of $4.65 per share. It looks like Mafsen will have to take his shares, now worth around a dollar less than Lion Nathan paid, and go find another job.
