August 30, 2000 |
How sweet it was for a lot of investors. Wine stocks rallied Tuesday after two foreign firms launched bids to acquire California vintners, prompting talk of additional deals. Australia's largest brewer, Foster's Brewing Group, said it will buy Beringer Wine Estates Holdings (ticker symbol: BERW) for $1.5 billion plus assumption of debt. Beringer shares rocketed $10.25 to a 52-week high of $55.31 after Foster's offered $55.75 per share for Beringer.
June 24, 1998 |
Shares of Robert Mondavi Corp., one of the largest U.S. wine producers, fell nearly 8% after the company warned that fiscal fourth-quarter and 1998 earnings will be 15 cents a share below estimates because of slow Chardonnay sales. Oakville-based Mondavi shares fell $2.50 to close at $29.56 in heavy trading on Nasdaq. The stock, which earlier fell to a 52-week low of $27.63, is the worst-performing beverage stock so far this year with a 39% decline.
August 28, 1997
Beringer Wine Estates Holdings Inc., Napa Valley's oldest continuously operating winery, plans to go public in a $100-million initial share offering. The St. Helena producer of well-known premium wines such as Beringer and Meridian Vineyards filed to register an initial public offering for up to 4.85 million Class B common shares.
August 9, 2000 |
Two of California's largest vintners, Kendall-Jackson and Beringer Wine Estates, are discussing a merger that could lead to the creation of the country's largest premium-wine company, officials confirmed Tuesday.
April 13, 1999 |
I won. I think. Getting 100 shares of Ravenswood Winery in its initial public offering turned out to be surprisingly easy. Watching them test the stock market now, without any traditional analyst support, could turn out to be the hard part. From this corner, W.R. Hambrecht & Co.'s novel "OpenIPO" format lived up to its name in the first test. The San Francisco-based brokerage touts OpenIPO as an egalitarian "Dutch auction" system that gives the little guy a fair shake.