One of Australia’s biggest companies is sold to a Japanese giant that also now owns some of our most popular beer brands
Japanese beer maker Kirin has lobbed a $1.85billion takeover bid for Blackmores.
It said on Thursday that it plans to acquire a 100% stake in the health giant and pay all shareholders in cash.
If the deal goes through, Blackmores will be delisted from the Australian Securities Exchange in early August, the Japanese company said in a statement.
Kirin is the parent company of Lion, which boasts Australian brews including Tooheys, Furphy, XXXX, Little Creatures, James Squire, James Boag, Hahn and White Rabbit, among others.
More to come