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BUSINESS
July 18, 1995 | Times Staff and Wire Reports
Interbrew to Sell Labatt TV Arm: The Belgium brewer, which is buying Canada's Toronto-based John Labatt Ltd. for $2 billion, said it is selling the television unit to a group led by the unit's management. The price for Labatt Communications Inc. was not disclosed, but analysts have valued the media assets at about $444 million. Interbrew said the agreement is subject to the completion of its takeover of Labatt, set to close July 26.
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BUSINESS
June 7, 1995 | From Reuters
Brewer John Labatt Ltd. accepted an offer valued at $2.9 billion from Interbrew of Belgium on Tuesday, a deal that would create the world's third-largest brewing company, behind Anheuser-Busch Cos. and Heineken. Labatt, Canada's second-largest brewer, turned to privately held Interbrew to rescue it from a hostile $1.68-billion takeover offer from Onex Corp., a Canadian leveraged buyout firm. The news sparked a sharp jump in the stock of Labatt, which closed up $1.
BUSINESS
May 19, 1995 | Times Staff and Wire Reports
Onex to Offer $1.7 Billion for Brewer Labatt: The Canadian investment company said it wants to purchase John Labatt Ltd. and plans to sell the brewer's non-beer operations, which include the Toronto Blue Jays baseball team. Onex Corp., well known in Canadian financial circles but relatively obscure in the United States, said in disclosing the purchase proposal that it intends to focus Labatt's efforts on brewery operations. Labatt's beer brands include Labatt Blue and Labatt Ice Beer.
BUSINESS
July 18, 1995 | Times Staff and Wire Reports
Interbrew to Sell Labatt TV Arm: The Belgium brewer, which is buying Canada's Toronto-based John Labatt Ltd. for $2 billion, said it is selling the television unit to a group led by the unit's management. The price for Labatt Communications Inc. was not disclosed, but analysts have valued the media assets at about $444 million. Interbrew said the agreement is subject to the completion of its takeover of Labatt, set to close July 26.
BUSINESS
June 7, 1995 | From Reuters
Brewer John Labatt Ltd. accepted an offer valued at $2.9 billion from Interbrew of Belgium on Tuesday, a deal that would create the world's third-largest brewing company, behind Anheuser-Busch Cos. and Heineken. Labatt, Canada's second-largest brewer, turned to privately held Interbrew to rescue it from a hostile $1.68-billion takeover offer from Onex Corp., a Canadian leveraged buyout firm. The news sparked a sharp jump in the stock of Labatt, which closed up $1.
BUSINESS
July 7, 1994 | JUANITA DARLING, TIMES STAFF WRITER
Two prominent brewers, based in Canada and Mexico, said Wednesday they have agreed to merge their U.S. units and market each other's brands, joining forces to compete more effectively under free trade rules in the vast North American beer market. According to the deal, John Labatt Ltd., Canada's second-largest beer company, will also acquire for $510 million a 22% stake in FEMSA Cerveza, Mexico's largest brewer.
BUSINESS
May 30, 1995 | Times Staff and Wire Reports
Labatt Urges Rejection of Onex Bid: Canadian brewer John Labatt Ltd., maker of Rolling Rock beer, said its board has recommended that shareholders reject a $1.7-billion takeover offer from Canadian conglomerate Onex Corp. Labatt said in a mailing to shareholders that the $17.50-a-share bid from the Onex group, which includes several Canadian investors and Luxembourg-based Quilmes Industrial, is "inadequate and not in the best interests of shareholders." On Friday, Labatt filed suit in U.S.
BUSINESS
July 7, 1994 | JUANITA DARLING, TIMES STAFF WRITER
Two prominent brewers, based in Canada and Mexico, said Wednesday they have agreed to merge their U.S. units and market each other's brands, joining forces to compete more effectively under free trade rules in the vast North American beer market. According to the deal, John Labatt Ltd., Canada's second-largest beer company, will also acquire for $510 million a 22% stake in FEMSA Cerveza, Mexico's largest brewer.
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