Japanese beer giant set to buy Aussie vitamin brand in $1.9 billion takeover

Kirin is known best for its beer – it is Japan's second-largest brewer behind only Asahi, and in 2009 bought Australian alcohol giant Lion Nathan – but has been pushing to expand the pharmaceutical arm of its business.

"We believe Blackmores will accelerate the transformation of our health science domain," Kirin board director Takeshi Minakata said. "We are excited about the growth potential for the Blackmores business and look forward to supporting its growth and development, and furthering its commitment to quality ingredients and product development."At the end of trading on Thursday, shares in the Australian company had jumped 22.5 per cent following the takeover announcement, up to $94.26.

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Kirin lobs $1.9bn takeover bid for Australian health supplements giantJapanese beer giant Kirin confirmed it plans to acquire a 100 per cent stake in Blackmores at $95 per share - a 23.7 per cent premium to the stock's last closing price.
Source: SkyNewsAust - 🏆 7. / 78 Read more »